LogMeIn Rises On Unusually High Volume (LOGM)

NEW YORK (TheStreet) -- LogMeIn (Nasdaq:LOGM) is trading at unusually high volume Thursday with 676,674 shares changing hands. It is currently at four times its average daily volume and trading up $2.27 (+6%) at $39.85 as of 1:05 p.m. ET.

LogMeIn has a market cap of $996.2 million and is part of the technology sector and computer software & services industry. Shares are down 2.5% year to date as of the close of trading on Wednesday.

LogMeIn, Inc. provides on-demand, remote-connectivity, collaboration, and support solutions to small and medium-sized businesses, information technology (IT) service providers, mobile carriers, and consumers in the United States and internationally.

TheStreet Ratings rates LogMeIn as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full LogMeIn Ratings Report.

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