Stock Investors Sell Off Shares of LogMeIn, Down 2.1%

Published on Wed, 10/02/2013 - 10:30
By Adrienne Chilton in Market movers, LOGM, logmein, market movers, nasdaq:logm

One of today's notable stocks in decline is LogMeIn (NASDAQ:LOGM), down 2.1% to $30.51. The Dow is down 0.7% to 15,086 and the S&P is currently down 0.6% to 1,685.

There is potential upside of 15.8% for shares of LogMeIn based on a current price of $30.51 and an average consensus analyst price target of $35.33. The stock should find initial support at its 50-day moving average (MA) of $30.26 and further support at its 200-day MA of $24.22.

LogMeIn, Inc. offers remote connectivity services to computers for mobile professionals, and help desk and systems administrators worldwide.

Over the past year, LogMeIn has traded in a range of $16.12 to $32.29 and is now at $30.51, 89% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.5%.

By Adrienne Chilton
achilton@fnno.com

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