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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 products are performing well.
Comments (2)
  • Don Dion
    , contributor
    Comments (2869) | 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-
    9 Jul, 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, 04:36 PM Reply Like
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