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LOGM

LogMeln

$111.35

2.25 (2.06%)

06:16
07/13/18
07/13
06:16
07/13/18
06:16

LogMeln price target cut to $135 from $140 at Piper Jaffray

Piper Jaffray analyst Alex Zukin reiterated an Overweight rating on LogMeIn, but lowered his price target to $135 from $140 due to increased competition. In a research note to investors, Zukin says he expects the company will post a modest Q2 beat on July 26 after the market close, with competitive pressure in collaboration likely limiting meaningful upside revisions to FY18 guidance until the 2H. In his view, LogMeIn remains a "show-me" story, but says valuation is attractive.

  • 26

    Jul

LOGM LogMeln
$111.35

2.25 (2.06%)

04/06/18
KEYB
04/06/18
INITIATION
Target $135
KEYB
Overweight
LogMeln initiated with an Overweight at KeyBanc
KeyBanc analyst Alex Kurtz started LogMeln with an Overweight rating and $135 price target. The analyst believes the current valuation provides an attractive entry point. Investors should own the shares ahead of gains in sales force productivity and monetization of cross-selling opportunities, Kurtz tells investors in a research note. He believes cross-selling opportunities among LogMeln's 2.3M customer base is still early and that the current free cash flow yield is attractive.
04/27/18
JPMS
04/27/18
NO CHANGE
Target $145
JPMS
Overweight
JPMorgan 'very surprised' by post-earnings selloff in LogMeln
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.
04/27/18
BARD
04/27/18
NO CHANGE
Target $145
BARD
Outperform
LogMeln weakness a buying opportunity, says Baird
Baird analyst William Power noted LogMeIn sold off following Q1 results as its guidance commentary included a cut to EBITDA due to higher depreciation and interest expense. The analyst said the stand-alone business appears to be performing well and the free cash flow outlook remains strong. Power said he would use the weakness in LogMeIn as a buying opportunity and reiterated his Outperform rating and $145 price target on the shares.
05/24/18
PIPR
05/24/18
NO CHANGE
Target $140
PIPR
Overweight
LogMeln shares have 'significant upside,' says Piper Jaffray
After hosting investor meetings with management, Piper Jaffray analyst Alex Zukin says shares of LogMeln have "significant upside" from current levels. The company's product and go-to-market changes aimed at directly combating a changing competitive landscape are set to benefit bookings in the second half of 2018, Zukin tells investors in a research note. He views the current valuation as "compelling" and believes upside will be drive by "consistent beat and raise execution, potential for accelerating revenue growth, and a multiple re-rating in line with our peer group." The analyst keeps an Overweight rating on LogMeln with a $140 price target.

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