Market Overview

UPDATE: JP Morgan Downgrades LogMeIn to Neutral on Disappointing Guidance

Share:
Related LOGM
15 Stocks Which Rallied Four Days, Then Sold Off Yesterday
Citrix And LogMeIn Merger Attracts Analysts' Attention

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 2016BarclaysMaintainsUnderweight
Jul 2016JP MorganUpgradesNeutralOverweight
Jul 2016Pacific CrestDowngradesOverweightSector Weight

View More Analyst Ratings for LOGM
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Analyst Ratings

 

Related Articles (LOGM)

View Comments and Join the Discussion!