LogMeln reported "very impressive" Q1 results with pro forma revenue growth of 8.2% and earnings per share upside of 4c, JPMorgan analyst Sterling Auty tells investors in a research note. He's "very surprised" by the corresponding stock selloff. Investors took issue with the company lowering the EBITDA forecast by $5M for the acquisition of Jive Communications, Auty contends. He believes the acquisition brings a 20% growing asset in the UCaaS space into a collaboration business that has been growing 5%. This should give LogMeln a "complete solution" that will be "highly competitive in the market for years to come," the analyst writes. Auty keeps an Overweight rating on LogMeln with a $145 price target. The stock in premarket trading is down 8% to $119.60.