UPDATE: Oppenheimer Starts LogMeIn (LOGM) at Outperform; Leading Remote-Access Provider

June 13, 2012 7:22 AM EDT
Get Alerts LOGM Hot Sheet
Price: $100.25 --0%

Rating Summary:
    8 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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(Updated - June 13, 2012 9:25 AM EDT)

Oppenheimer initiates coverage on LogMeIn (NASDAQ: LOGM) with an Outperform. PT $40.00.

Analyst, Shaul Eyal, said, "LOGM is well positioned to benefit from the rise of a growing remote workforce and a plethora of device choices. We believe that LOGM's business model provides a high level of predictability, and the company's focus on enhancing its best-of-breed solutions remains a competitive differentiator."

Eval sees FY13 revenues growing 21.8% year-over-year (to $172.5 mln and EPS of $0.89) Sees FY13 margins going to 22% from 19.2%.

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 $30.46 yesterday.

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