Needham & Company Starts LogMeIn (LOGM) at Buy; Going For Best-of-Breed SaaS Infrastructure Play
Tweet Send to a FriendGet Alerts LOGM Hot Sheet
Price: $24.56 +0.29%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade LOGM Now!
Needham & Company initiates coverage on LogMeIn (NASDAQ: LOGM) with a Buy. PT $48.00.
Analyst, Scott Zeller, said, "After DecQ and the CY12 guidance which unveiled the Ignition revenue change, and corresponding reset of operating margins from 23% down to 18-19%, we believe the bar has been reset for LOGM, and we would take advantage and build positions as LOGM expands margins through CY12, leveraging its best-in-class infrastructure (Gravity Platform) which has a cost advantage over competitors in the SaaS world (90% gross margins at LOGM)."
For an analyst ratings summary and ratings history on LogMeIn click here. For more ratings news on LogMeIn click here.
Shares of LogMeIn closed at $35.26 yesterday, with a 52 week range of $26.74-$49.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Scott Zeller, said, "After DecQ and the CY12 guidance which unveiled the Ignition revenue change, and corresponding reset of operating margins from 23% down to 18-19%, we believe the bar has been reset for LOGM, and we would take advantage and build positions as LOGM expands margins through CY12, leveraging its best-in-class infrastructure (Gravity Platform) which has a cost advantage over competitors in the SaaS world (90% gross margins at LOGM)."
For an analyst ratings summary and ratings history on LogMeIn click here. For more ratings news on LogMeIn click here.
Shares of LogMeIn closed at $35.26 yesterday, with a 52 week range of $26.74-$49.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Deutsche Bank Resumes CenterPoint Energy (CNP) at Hold
- Roth Capital Resumes Crown Crafts (CRWS) at Buy
- Wedbush Downgrades salesforce.com (CRM) to Neutral
Create E-mail Alert Related Categories
New CoverageRelated Entities
Needham & Company
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
