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Logitech (LOGI) Updates Sync, Boosts Device Management Portfolio

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Logitech International SA (LOGI - Free Report) recently announced a major update to its video conferencing device management software — Sync — that is built to support hybrid workforces.

Sync is a secure, cloud-based device management platform that allows information technology (“IT”) admins to manage and monitor Logitech meeting room devices at scale. It works in conjunction with the Logitech Sync App, which runs on a computer or video appliance device in the meeting room.

As part of Logitech’s Video Collaboration solutions, Sync processes data and information that it receives from hardware devices and presents IT admins with actionable data regarding monitoring, management and room insights. It is compatible with popular collaboration platforms like Google Meet, Microsoft Teams, and Zoom. Needless to say, this advanced remote monitoring technology simplifies tasks like firmware updates and feature enablement.

With the latest upgrade, Sync will support personal collaboration devices comprising headsets, webcams and docking stations, including the company’s docking platform, Logi Dock. Sync will now offer a comprehensive suite of device management solutions to IT professionals starting from home offices to personal workspaces. The clients will be able to manage conference rooms and workstations remotely with much more efficiency and convenience than they currently do.

Logitech Sync’s latest updated features are currently accessible as a free and open beta globally from the Sync Portal.

Logitech has been benefiting from elevated demand for its products in the Gaming, Creativity & Productivity, and Video Collaboration units with the ongoing work-from-home and learn-from-home trends. Its continued focus on bolstering cloud-based video conferencing services has been aiding it to robustly expand the clientele base.

The growing adoption of new mobile platforms in both mature and emerging markets is fueling the demand for the company’s peripherals and accessories. Logitech’s expanding partner base that includes Google, Microsoft and Zoom Video is key to its top-line performance. Buyouts like Streamlabs — a leading tool provider for professional streamers, and ASTRO Gaming — a popular console gaming headset maker are major positives.

Zacks Rank & Stocks to Consider

Logitech currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader computer and technology sector include the largest global Customer Relationship Management vendor Salesforce (CRM - Free Report) and Hewlett Packard (HPE - Free Report) , both flaunting a Zacks Rank #1 (Strong Buy), and Advanced Micro Devices (AMD - Free Report) carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Salesforce’s fourth-quarter fiscal 2022 earnings has been revised downward by 7.6% to 73 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved upward by 0.43% to $4.68 per share in the last 60 days.

Salesforce’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 44.2%. CRM stock has appreciated 4.3% in the past year.

The Zacks Consensus Estimate for HPE’s first-quarter fiscal 2022 earnings has been revised downward by 6.1% to 46 cents per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 1.5% to $2.03 per share in the past 90 days.

HPE’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14.4%. Shares of HPE have rallied 40.7% in the past year.

The Zacks Consensus Estimate for Advanced Micro Devices’ fourth-quarter 2021 earnings has been revised upward by 7 cents to 75 cents per share over the past 90 days. For 2021, earnings estimates have moved north by 0.38% to $2.65 per share in the last 60 days.

Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD have rallied 47.5% in the past year.