Impressive Logitech Performance Spurs Analysts To Increase Price Targets, Despite Lowered Future Revenue Estimates
Portfolio Pulse from Lekha Gupta
Logitech International SA (NASDAQ:LOGI) has seen its price target raised by several analysts following strong Q4 FY23 earnings. The company reported Q1 FY24 revenue of $974.5 million, exceeding consensus estimates. Logitech also revised its H1 FY24 sales guidance upwards. However, analysts from Wedbush and Citigroup have lowered their revenue and EPS estimates for FY24 and beyond. LOGI shares are currently trading higher by 0.85% at $72.13.
July 26, 2023 | 7:07 pm
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Logitech's strong Q4 FY23 earnings have led to an increase in its price target by several analysts. However, future revenue and EPS estimates have been lowered by Wedbush and Citigroup analysts.
The strong Q4 FY23 earnings reported by Logitech have led to an increase in its price target by several analysts, indicating a positive outlook for the company's stock. However, the lowering of future revenue and EPS estimates by Wedbush and Citigroup analysts could indicate potential concerns about the company's future performance. Despite this, LOGI shares are currently trading higher, suggesting that the market is reacting positively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100