Northland Capital Markets Raised Price Target on LogMeIn (LOGM) After Speaking with Management

Northland Capital Markets maintains an Outperform rating on LogMeIn (NASDAQ: LOGM), and raised the price target to $75.00 (from $65.00), after speaking with management. Analyst Tim Klasell says that LOGM has added video capabilities to their products.

Klasell commented on LOGM, saying, "LogMeIn recently added video capability to its core support desk product Rescue. As a result, end clients having issues can show a support desk CSR physical items via the camera on their tablet/smart phone. On the last earnings call, an example of Zero motorcycle becoming a customer was provided. Given the strong interest, they are not going to be charging for the extra capability (we had thought they could get $200/seat/year), but have decided to include in the base $1300/seat/year price. The strategy is as more IT workers get exposure to this feature, it will become apparent to other support professionals focusing on physical items could benefit and total seat count will grow faster."

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 $64.66 yesterday.

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