Market Overview

UPDATE: JP Morgan Downgrades LogMeIn to Neutral on Disappointing Guidance

Related LOGM
LogMeln Down +6% After Being Put On List Of Short-Sale Research Shop
Mid-Day Market Update: Twitter Drops On Earnings; Pepco Shares Gain

JP Morgan downgraded LogMeIn (NASDAQ: LOGM) from Overweight to Neutral and lowered the price target from $29.00 to $23.00.

JP Morgan said, "LOGM reported decent 4Q results, but guidance for 1Q and next year was surprisingly well below consensus numbers as the company ramps up spending for growth in newer markets, reduces the growth it anticipates in its core remote support business, and shifts assets offshore resulting in temporary elevated tax rates. As a result, we are reducing our estimates significantly and our rating to Neutral from Overweight."

LogMeIn closed at $23.66 on Thursday.

Latest Ratings for LOGM

DateFirmActionFromTo
Jul 2014BarclaysMaintainsEqual-weight
Jul 2014Cowen & CompanyUpgradesMarket PerformOutperform
Jul 2014Off Wall StreetInitiates Coverage onSell

View More Analyst Ratings for LOGM
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Analyst Ratings

 

Related Articles (LOGM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters