LogMeIn Share Prices Advance 20%, Overdone According to Analyst
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.
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