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9 IT Services Stocks With Upside

4. LogMeIn (LOGM - Get Report) offers on-demand, remote-connectivity and support solutions for small- and medium-sized businesses (SMBs), information technology (IT) service providers, mobile carriers and consumers. The company's solutions enable users to remotely access support and manage computers and other Internet-enabled devices on demand, as well as to collaborate with other users.

All the 10 analysts covering the stock recommend a buy. The stock's average 12-month price target is $47.14, which is 25% higher than the current price, according to a Bloomberg consensus.

For the 2011 third quarter, total revenue was up 22% year-over-year to $31.0 million from $25.3 million during the third quarter of 2010. Core product revenue, excluding $1.7 million revenue from the company's Intel agreement in the third quarter of 2010, grew 31% year-over-year. Net income for the 2011 third quarter stood at $1.1 million, or 4 cents per diluted share. Cash flow from operations reached $10.2 million, vs. $7.0 million in the 2010 third quarter.

For the fourth quarter of 2011, the company expects revenue to be in the range of $31.6 million to $32.0 million, while GAAP net income are seen in the range of $1.5 million to $1.8 million, or 6 cents to 7 cents per diluted share.

For full year 2011 outlook, the company expects revenue in the range of $118.7 million to $119.1 million, while GAAP net income including the stock compensation expense, acquisition related expenses, and patent litigation related expenses are forecast between $5.2 million and $5.5 million, or 21cents to 22 cents per diluted share.

Last month, LogMeIn launched a free mobile app to bring its signature remote desktop capabilities to more iPads and iPhones. Pachube, a LogMeIn company, has just released the beta of OnBoard, a turnkey service for commercial manufacturers to get their devices onto the Internet of Things and create Internet-connected services.
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SYM TRADE IT LAST %CHG
SAPE $24.98 0.00%
EQIX $257.49 0.77%
IGTE $48.00 0.65%
INXN $28.00 -0.76%
LOGM $62.50 0.43%

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