Barclays Maintains an 'Overweight' on LogMeIn (LOGM); Patience is Required
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Price: $86.04 --0%
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
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Barclays maintains an 'Overweight' on LogMeIn (NASDAQ: LOGM) price target of $37.00 (from $52.00).
Analyst, Raimo Lenschow, said, "Q2'12 revenue and billings below expectations with in-line profitability and a lower guide. Weakness was blamed on larger deals on the Rescue side of the business impacted by longer sales cycles in Europe...We think there may be tentative evidence of improvement in Q3, while fully clear evidence of the strategy coming through is likely a Q1'13 event."
FY12 EPS estimate lowered from $0.66 to $0.64 and FY13 from $0.97 to $0.92.
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 $30.87 yesterday.
Analyst, Raimo Lenschow, said, "Q2'12 revenue and billings below expectations with in-line profitability and a lower guide. Weakness was blamed on larger deals on the Rescue side of the business impacted by longer sales cycles in Europe...We think there may be tentative evidence of improvement in Q3, while fully clear evidence of the strategy coming through is likely a Q1'13 event."
FY12 EPS estimate lowered from $0.66 to $0.64 and FY13 from $0.97 to $0.92.
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 $30.87 yesterday.
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