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LogMeIn Share Prices Advance 20%, Overdone According to Analyst

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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

 

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