LogMeIn Stock Falls On Unusually High Volume (LOGM)

NEW YORK ( TheStreet) -- LogMeIn (Nasdaq: LOGM) is trading at unusually high volume Wednesday with 913,786 shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.23 (-3.1%) at $38.86 as of 10:32 a.m. ET. LogMeIn has a market cap of $993.9 million and is part of the technology sector and computer software & services industry. Shares are down 9.6% year to date as of the close of trading on Tuesday.

LogMeIn, Inc. provides on-demand, remote-connectivity solutions to small and medium-sized businesses, information technology (IT) service providers, and consumers in the United States and internationally. The company has a P/E ratio of 56.7, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates LogMeIn as 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 impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including premium valuation and weak operating cash flow. You can view the full LogMeIn Ratings Report.

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