Seeking Alpha

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 (1)
  • Don Dion
    , contributor
    Comments (2621) | 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
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