LogMeIn -6.3% on Off Wall Street report


Independent research firm Off Wall Street has launched coverage on LogMeIn (LOGM) with a Sell and $30 PT.

The firm argues LogMeIn's core market (remote PC access software) is saturated, and that user growth is stagnant following last year's price hikes.

Piper is defending LogMeIn, asserting its core business and new products are healthy.

LogMeIn, for its part, has responded to OWS with a blog post. The company states (among other things) it's gaining IT management software customers, and that its BoldChat and join.me products are performing well.

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Comments (2)
  • Don Dion
    , contributor
    Comments (4635) | Send Message
     
    Interesting how Piper which was one of their underwriters has already defended this company which continues to lose money. Also, the insiders having been bailing big time. See-http://seekingalpha.co...
    9 Jul 2014, 12:53 PM Reply Like
  • mikeee00
    , contributor
    Comments (4) | Send Message
     
    Got an alert about LOGM stock skyrocketing to an all time high of $51.50 and wondering what is going on here?? Thought the analyst "Off Wall Street" said the stock was going down to $30 with stagnant revenue/earnings but instead the company is beating estimates on earnings and revenue. Any new guidance on this company / stock?
    12 Nov 2014, 04:36 PM Reply Like
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