TMCnet News
Downgrade Alert for LogMeIn (LOGM)Feb 15, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- LogMeIn (NASDAQ:LOGM) was downgraded from Overweight to Neutral at JP Morgan today. The stock closed yesterday at $16.64 on volume of 715,000 shares, above average daily volume of 173,000. There is potential upside of 91.0% for shares of LogMeIn based on a current price of $16.65 and an average consensus analyst price target of $31.80. LogMeIn shares should first meet resistance at the 50-day moving average (MA) of $22.54 and find additional resistance at the 200-day MA of $24.95. In the past 52 weeks, shares of LogMeIn have traded between a low of $18.74 and a high of $40.31 and are now at $16.65, which is -11% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has advanced 0.7%. LogMeIn, Inc. offers remote connectivity services to computers for mobile professionals, and help desk and systems administrators worldwide. SmarTrend is tracking the current trend status for LogMeIn and will alert subscribers who have LOGM in their portfolio or watchlist when shares have changed trend direction. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |