Information Provided By:
Fly News Breaks for February 15, 2019
LOGM
Feb 15, 2019 | 07:37 EDT
Needham analyst Richard Valera downgraded LogMeIn to Hold, saying that in spite of its "solid" Q4 earnings beat, the outlook for 2019 EBITDA and free cash flow were all "far lower than expected". The analyst cites the company's decision to sharply increase its investment to re-accelerate its business growth to double-digits in 2021, but contends that offsetting the drag from its legacy products that still account for 80% of total revenue will be a "multi-year effort". Valera says he will return to a more constructive rating upon evidence of LogMeIn's 10% targeted revenue growth for 2021 being achievable.
News For LOGM From the Last 2 Days
There are no results for your query LOGM