Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Logitech (LOGI) Stock Sinks As Market Gains: What You Should Know

Published 08/24/2021, 05:50 AM
Updated 07/09/2023, 06:31 AM

Logitech (NASDAQ:LOGI) closed at $106.29 in the latest trading session, marking a -1.25% move from the prior day. This change lagged the S&P 500's 0.15% gain on the day.

Prior to today's trading, shares of the maker of keyboards, webcams and other computer accessories had lost 10.95% over the past month. This has lagged the Computer and Technology sector's gain of 1.54% and the S&P 500's gain of 1.68% in that time.

Wall Street will be looking for positivity from LOGI as it approaches its next earnings report date. The company is expected to report EPS of $1.20, down 35.83% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.33 billion, up 6.02% from the year-ago period.

LOGI's full-year Zacks Consensus Estimates are calling for earnings of $4.67 per share and revenue of $5.38 billion. These results would represent year-over-year changes of -27.26% and +2.47%, respectively.

Investors should also note any recent changes to analyst estimates for LOGI. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.09% higher. LOGI currently has a Zacks Rank of #3 (Hold).

Digging into valuation, LOGI currently has a Forward P/E ratio of 23.06. This valuation marks a premium compared to its industry's average Forward P/E of 15.55.

The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


Tech IPOs With Massive Profit Potential

In the past few years, many popular platforms and like Uber (NYSE:UBER) and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.

For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…

If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.

With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.

See Zacks Hottest Tech IPOs Now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Logitech International S.A. (LOGI): Free Stock Analysis Report

To read this article on Zacks.com click here.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.