|Over a week ago|
Logitech initiated with an Overweight at Barclays » 06:2111/0911/09/22
Barclays analyst Tim Long…
Barclays analyst Tim Long initiated coverage of Logitech with an Overweight rating and $65 price target. The company has successfully transitioned from a mono-brand with PC dependency to a "multi-brand and multi-category cloud peripherals company under the best of breed CEO Bracken Darrel," Long tells investors in a research note. The analyst says Logitech is a market leader in two-thirds of its 30 product categories. He views the company as the most underappreciated player in the space, with easier compares and a replacement cycle on the horizon led by gaming.
|Over a month ago|
Logitech price target lowered to CHF 60 from CHF 66 at Deutsche Bank » 13:5510/2710/27/22
Deutsche Bank analyst…
Deutsche Bank analyst Robert Sanders lowered the firm's price target on Logitech to CHF 60 from CHF 66 and keeps a Buy rating on the shares.
Logitech price target lowered to $65 from $85 at DA Davidson » 08:4610/2610/26/22
DA Davidson analyst…
DA Davidson analyst Franco Granda lowered the firm's price target on Logitech to $65 from $85 but keeps a Buy rating on the shares. The company's Q2 results missed expectations amid lower volumes, headwinds from inflationary cost pressure, and unfavorable currency headwinds, the analyst tells investors in a research note. Most investors likely breathed a sigh of relief however when Logitech reiterated its full year outlook given the heightened uncertainty at the macro level, Granda adds.
Logitech affirms FY23 revenue outlook down 8% to down 4% » 21:0410/2410/24/22
Logitech "reaffirmed its FY23 outlook of between negative 8% and negative 4% sales growth in constant currency, and between $650 million and $750 million in non-GAAP operating income."
Logitech CFO Nate Olmstead to step down » 21:0310/2410/24/22
Logitech announced that…
Logitech announced that Nate Olmstead, CFO, will be leaving the Company. Logitech will be launching a search and Mr. Olmstead currently plans to stay on as CFO through the transition.
Logitech reports Q2 EPS 84c, consensus 81c » 21:0310/2410/24/22
Reports Q2 revenue…
Reports Q2 revenue $1.15B, consensus $1.21B. "As we enter the holiday season we continue to drive innovation, announcing more than 20 products which tap into the long-term trends of hybrid work, video everywhere, gaming and digital content creation," said Bracken Darrell, CEO. "In the face of global macroeconomic headwinds we will continue to pursue operational excellence and deliver industry-leading innovation."
Logitech options imply 7.9% move in share price post-earnings » 13:4910/2410/24/22
Pre-earnings options volume in Logitech is 3.0x normal with puts leading calls 9:4. Implied volatility suggests the market is anticipating a move near 7.9%, or $3.59, after results are released. Median move over the past eight quarters is 3.8%.
Logitech price target lowered to $38 from $45 at Morgan Stanley » 05:5210/1710/17/22
Morgan Stanley analyst…
Morgan Stanley analyst Erik Woodring lowered the firm's price target on Logitech to $38 from $45 and keeps an Underweight rating on the shares. Consumer and enterprise checks "deteriorated" in 3Q, suggesting further downside to estimates for IT hardware names, Woodring tells investors in a research note. While valuation multiples are lower, they are "not at troughs," says the analyst. He believes that while the market is increasingly pricing in "bad news", it is still too early to get positive on hardware names. Woodring sees a challenging setup for Q3 and names Apple and CDW his top ideas. He continues to "have a quality bias" and reduced earnings estimates and price targets by 10% and 15%, on average, respectively.
Largest borrow rate increases among liquid names » 08:4510/0510/05/22
LOGI, EWU, CVNA, BLNK, SST, EVGO, DNMR, CORZ, TCDA, NLSN
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: (LOGI) 2.97% +2.40, (EWU) 7.76% +0.39, (CVNA) 1.62% +0.32, Blink Charging (BLNK) 14.39% +0.27, (SST) 66.94% +0.21, (EVGO) 26.60% +0.21, (DNMR) 16.07% +0.20, (CORZ) 3.79% +0.19, Tricida (TCDA) 1.86% +0.18, and Nielsen (NLSN) 0.42% +0.17.
Logitech downgraded to Underperform from Neutral at Exane BNP Paribas » 05:1410/0310/03/22
Exane BNP Paribas analyst…
Exane BNP Paribas analyst Ben Castillo-Bernaus downgraded Logitech to Underperform from Neutral with a CHF 36 price target.