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LogMeIn (NASDAQ:LOGM) was downgraded by research analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a report released on Wednesday, reports. They currently have a $38.00 target price on the stock, up from their previous target price of $37.00. Cowen and Company’s price target would suggest a potential upside of 6.71% from the company’s current price.

Shares of LogMeIn (NASDAQ:LOGM) traded down 3.78% on Wednesday, hitting $33.85. The stock had a trading volume of 47,816 shares. LogMeIn has a 52-week low of $16.12 and a 52-week high of $36.68. The stock has a 50-day moving average of $32.84 and a 200-day moving average of $31.17. The company’s market cap is $819.9 million.

LogMeIn, Inc (NASDAQ:LOGM) provides essential cloud-based collaboration, information technology (IT) management and customer service offerings aimed at addressing the evolving multi-device, security, management and accessibility requirements of the new mobile workplace.

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