Market Overview

LogMeIn Share Prices Advance 20%, Overdone According to Analyst

Related LOGM
CGI Gets DISA Defense Cloud Certification - Analyst Blog
Carbonite Gains from HIPAA Regulations - Analyst Blog

Richard Baldry, an analyst for Wunderlich, believes shares of LogMeIn (NASDAQ: LOGM) are over-extended with a 20% pop yesterday, March 26th.

Shares rallied hard on news that the company won a patent suit against 01 Communique (NASDAQ: ONE).

However, Baldry was quick to note that, "few patent verdicts result in meaningful impacts to companies [that are] sued."

Baldry sees this as a positive for the stock, but thinks a 20% move is unwarranted.

LOGM is currently down ~5 percent in pre-market trading.

Posted-In: Analyst Color Analyst Ratings Movers Tech

 

Most Popular

Related Articles (LOGM + ONE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free