Could LogMeIn, Inc. (LOGM) Change Direction After This Wedge Down Pattern

May 18, 2018 - By Larry Purdy

LogMeIn, Inc. (NASDAQ:LOGM) Logo

Investors sentiment decreased to 1.07 in Q4 2017. Its down 0.26, from 1.33 in 2017Q3. It dropped, as 44 investors sold LogMeIn, Inc. shares while 110 reduced holdings. 53 funds opened positions while 112 raised stakes. 51.12 million shares or 0.18% more from 51.03 million shares in 2017Q3 were reported.
Tradewinds Mngmt Lc has 421 shares. International Group holds 0.04% in LogMeIn, Inc. (NASDAQ:LOGM) or 109,076 shares. Putnam Investments Lc accumulated 0.12% or 486,765 shares. The Illinois-based Grp One Trading L P has invested 0% in LogMeIn, Inc. (NASDAQ:LOGM). Gam Ag has invested 0.04% in LogMeIn, Inc. (NASDAQ:LOGM). Balyasny Asset Mngmt Limited Liability Company reported 0% in LogMeIn, Inc. (NASDAQ:LOGM). Ami Asset Mgmt stated it has 0.14% in LogMeIn, Inc. (NASDAQ:LOGM). State Bank Of America De holds 291,027 shares. Cortina Asset Management Limited Liability Com holds 152,165 shares. Earnest Ltd Liability Corporation reported 0% stake. Smithfield Tru Comm holds 0% or 195 shares in its portfolio. Timpani Cap Limited Liability Company has invested 1.16% in LogMeIn, Inc. (NASDAQ:LOGM). 217,095 were reported by Royal Natl Bank Of Canada. Dekabank Deutsche Girozentrale holds 0% of its portfolio in LogMeIn, Inc. (NASDAQ:LOGM) for 962 shares. Manchester Limited Liability Company stated it has 0% in LogMeIn, Inc. (NASDAQ:LOGM).

Since May 1, 2018, it had 0 insider purchases, and 5 sales for $5.16 million activity. Lok James sold $661,473 worth of stock. Shares for $2.20M were sold by Simon Michael K. Battles Christopher sold $205,911 worth of LogMeIn, Inc. (NASDAQ:LOGM) on Monday, May 7. On Tuesday, May 1 the insider Ford W. Sean sold $962,777.

The stock of LogMeIn, Inc. (LOGM) formed a down wedge with $107.62 target or 3.00 % below today’s $110.95 share price. The 9 months wedge indicates high risk for the $5.79B company. If the $107.62 price target is reached, the company will be worth $173.79M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.18% or $0.2 during the last trading session, reaching $110.95. About 218,451 shares traded. LogMeIn, Inc. (NASDAQ:LOGM) has risen 20.98% since May 18, 2017 and is uptrending. It has outperformed by 9.43% the S&P500.

Analysts await LogMeIn, Inc. (NASDAQ:LOGM) to report earnings on July, 26. They expect $0.98 earnings per share, up 22.50 % or $0.18 from last year’s $0.8 per share. LOGM’s profit will be $51.17M for 28.30 P/E if the $0.98 EPS becomes a reality. After $0.97 actual earnings per share reported by LogMeIn, Inc. for the previous quarter, Wall Street now forecasts 1.03 % EPS growth.

LogMeIn, Inc. (NASDAQ:LOGM) Ratings Coverage

Among 8 analysts covering LogMeIn (NASDAQ:LOGM), 8 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. LogMeIn has $145.0 highest and $130.0 lowest target. $141’s average target is 27.08% above currents $110.95 stock price. LogMeIn had 10 analyst reports since December 19, 2017 according to SRatingsIntel. Barclays Capital maintained the shares of LOGM in report on Friday, April 27 with “Overweight” rating. The firm has “Buy” rating given on Friday, April 27 by Robert W. Baird. The stock of LogMeIn, Inc. (NASDAQ:LOGM) earned “Buy” rating by Needham on Friday, February 16. RBC Capital Markets maintained the stock with “Buy” rating in Friday, February 16 report. Robert W. Baird maintained LogMeIn, Inc. (NASDAQ:LOGM) rating on Wednesday, December 20. Robert W. Baird has “Buy” rating and $145.0 target. On Friday, February 16 the stock rating was maintained by Cowen & Co with “Buy”. On Wednesday, December 20 the stock rating was maintained by Needham with “Buy”.

More important recent LogMeIn, Inc. (NASDAQ:LOGM) news were published by: Globenewswire.com which released: “Factors of Influence in 2018, Key Indicators and Opportunity within Perficient, LogMein, City Holding, Nelnet, US …” on May 02, 2018, also Seekingalpha.com published article titled: “LogMeIn (LOGM) Q1 2018 Results – Earnings Call Transcript”, Globenewswire.com published: “LogMeIn Announces First Quarter 2018 Results” on April 26, 2018. More interesting news about LogMeIn, Inc. (NASDAQ:LOGM) was released by: Nasdaq.com and their article: “LogMeIn’s Jive and GoToStage Win Stevie® Awards for New Product or Service of the Year from the 2018 American …” with publication date: May 10, 2018.

LogMeIn, Inc. provides cloud-based services for individuals and businesses to securely connect to their workplace, colleagues, and customers. The company has market cap of $5.79 billion. The firm offers GoToMeeting, a secure product for online meetings, sales demonstrations, and collaborative gatherings; GoToTraining, a secure online training product for interactive training sessions; GoToWebinar, a do-it-yourself Webinar product for organizations to enhance market reach; join.me, join.me pro, and join.me enterprise that are browser online meeting and screen sharing services; OpenVoice, a reservation-less audio conferencing service; Grasshopper, a well-known provider of cloud telephony solutions; and BoldChat, a Web live chat service. It has a 40.43 P/E ratio. It also provides GoToAssist, GoToAssist Corporate, and GoToAssist Seeit, which offer cloud IT support solutions to deliver uptime for people and their computers, mobile devices, and apps; LogMeIn Rescue, Rescue Lens, and LogMeIn Rescue+Mobile, which are Web remote support and customer care services offering remote support; and Xively, an IoT cloud platform and connected product management solution.

LogMeIn, Inc. (NASDAQ:LOGM) Institutional Positions Chart

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