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Logitech (LOGI) Expands Wireless Accessories Portfolio

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Logitech G, a brand of leading computer peripherals company, Logitech International S.A. (LOGI - Free Report) , launched two new products for high-performance wireless gaming.

The company introduced Logitech G603 LIGHTSPEED Wireless Gaming Mouse and Logitech G613 LIGHTSPEED Wireless Mechanical Gaming Keyboard, both designed for people who value precision and speed. Also, it has launched a high-quality mouse pad, Logitech G840 XL Gaming Mouse Pad, engineered particularly for players who value wide play spaces and clean setups.

Notably, the Logitech G603 boasts Logitech G’s modern HERO optical sensor and superior LIGHTSPEED wireless technology. The Logitech G613 features LIGHTSPEED wireless technology and Romer-G mechanical key switches that can deliver up to 18 months of gaming on two AA batteries.

In order to further boost growth, the company is pursuing innovation and expanding its product lines to tap the high-growth accessories market.

The shareholders seem optimistic about the company’s prospects, as Logitech’s shares have surged 41.2% year to date, outperforming the industry’s average gain of 15.4%.

In the previous quarter, the company introduced a number of offerings to grab a greater market share. The products include second Street Collection Bluetooth speakers, conference-cam offering Logitech MeetUp and a protective cover for Apple’s new iPad Pro - Logitech Slim Combo.

Currently, Logitech International is highly optimistic about the strong demand for Jaybird products and is strategizing on better supply execution. With such a strong product roster, this Zacks Rank #3 (Hold) company is highly confident about the market traction of its offerings in coming times.

However, the rising trend of smaller, mobile computing devices with touch interfaces and the declining demand in the company’s most profit-maximizing products like desktops and diverse porting tools can be a headwind in the near term. Moreover, the market where Logitech International operates is highly competitive. Strong competitors and increasing new entrants in the company’s operating markets also remain a concern.

Stocks to Consider

Better-ranked stocks in the same space include AppFolio, Inc. (APPF - Free Report) , Digital Turbine, Inc. (APPS - Free Report) , Apptio Inc. (APTI - Free Report) . While AppFolio sports a Zacks Rank #1 (Strong Buy), Digital Turbine and Apptio hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here

Digital Turbine came up with an average positive earnings surprise of 11.1% for the last four quarters, having beaten estimates twice over the last four quarters.

Apptio delivered an average positive earnings surprise of 32.5%, having surpassed estimates every time over the trailing four quarters.

AppFolio pulled off an average positive earnings surprise of 241.7% for the last four quarters, having beaten estimates every time in the last four quarters.  

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