Apps & Software

Analysts Assign LogMeIn Coverage As Quiet Period Ends (LOGM)

Douglas A. McIntyre

LogMeIn, Inc. (NASDAQ: LOGM) has only been public since July 1.  While the market has done well, this stock has actually come off by about 10% from its IPO post-closing levels.  It is still not a busted deal as its $16.00 price was for 6,666,667 shares (plus an extra 1 million for the overallotment).  But its quiet period has been lifted and we have research initiations from the syndicate group.  Thomas Weisel, Barclays Capital, and J.P. Morgan all initiated it with an “Overweight” rating equivalent.  Piper Jaffray initiated coverage of LogMeIn with a “Neutral” rating.

AUGUST 10, 2009