Citigroup Forecasts Strong Price Appreciation for Logitech International (NASDAQ:LOGI) Stock

Logitech International (NASDAQ:LOGI) had its price objective hoisted by equities researchers at Citigroup from $85.00 to $100.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 6.22% from the company’s previous close.

LOGI has been the topic of a number of other research reports. Wedbush reiterated an “outperform” rating and issued a $100.00 price target on shares of Logitech International in a research note on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Barclays dropped their price target on shares of Logitech International from $108.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, Loop Capital dropped their price target on shares of Logitech International from $97.00 to $78.00 and set a “hold” rating on the stock in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus price target of $87.86.

Logitech International Stock Performance

Shares of LOGI stock opened at $94.14 on Friday. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65. The company’s fifty day moving average price is $86.54 and its 200-day moving average price is $87.41.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Logitech International will post 4.21 earnings per share for the current year.

Institutional Investors Weigh In On Logitech International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA purchased a new stake in shares of Logitech International during the 4th quarter valued at about $26,000. Bessemer Group Inc. increased its position in shares of Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after purchasing an additional 308 shares during the last quarter. Quarry LP purchased a new stake in shares of Logitech International during the 1st quarter valued at about $33,000. Tower Research Capital LLC TRC increased its position in shares of Logitech International by 975.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Logitech International during the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.