Logitech International SA’s “Outperform” Rating Reaffirmed at Zacks (LOGI)
Logitech International SA (NASDAQ:LOGI)‘s stock had its “outperform” rating reaffirmed by Zacks in a report released on Thursday. They currently have a $18.00 target price on the stock. Zacks‘s target price points to a potential upside of 23.29% from the company’s current price.
Zacks’ analyst wrote, “Logitech is a leading designer and manufacturer of innovative peripherals for the digital world. We are reaffirming our recommendation on Logitech at Outperform with a target price of $18.00. Logitech reported strong first-quarter results with year over year growth in both earnings and revenues. The company’s strong performance in the first quarter was aided by increased demand for Mobile speakers and PC Gaming although somewhat offset by weakness in Tablet & other Accessories category. Further, Logitech achieved a higher operating leverage through its successful cost-streamlining initiatives. The company remains positive about its long-term growth potential attributable to its restructuring and turnaround plans. “
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Logitech International SA from an “underweight” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $15.00 price target on the stock, up previously from $13.50. Separately, analysts at Vontobel upgraded shares of Logitech International SA from a “hold” rating to a “buy” rating in a research note on Thursday, July 24th. Finally, analysts at Credit Suisse upgraded shares of Logitech International SA from a “neutral” rating to an “outperform” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.50.
Logitech International SA (NASDAQ:LOGI) traded down 4.07% during mid-day trading on Thursday, hitting $14.60. The stock had a trading volume of 963,860 shares. Logitech International SA has a one year low of $6.96 and a one year high of $16.88. The stock has a 50-day moving average of $13.39 and a 200-day moving average of $14.31. The company has a market cap of $2.380 billion and a price-to-earnings ratio of 26.33.
Logitech International SA (NASDAQ:LOGI) last released its earnings data on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.15. The company had revenue of $484.00 million for the quarter, compared to the consensus estimate of $476.95 million. During the same quarter last year, the company posted $0.01 earnings per share. Logitech International SA’s revenue was up 1.1% compared to the same quarter last year. Analysts expect that Logitech International SA will post $0.87 EPS for the current fiscal year.
Logitech International SA (NASDAQ:LOGI) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.
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