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Investing.com - BNP Paribas (OTC:BNPQY) Exane upgraded Logitech (SIX:LOGN) International SA (NASDAQ:LOGI), a $14 billion market cap company with strong financial health, from Neutral to Outperform and raised its price target to CHF88.00 from CHF80.00. According to InvestingPro data, the company maintains impressive financial metrics with a P/E ratio of 22.29 and steady revenue growth of 4.58%.
The upgrade comes after Logitech delivered first-quarter fiscal 2026 results that exceeded expectations, with sales, gross margin, and operating profit surpassing consensus estimates by 3%, 50 basis points, and 21%, respectively.
Asia sales grew 15%, primarily driven by China, while business-to-business sales increased with video conferencing revenues up 13%. Americas sales declined 4%, which the company attributed to unavailability of certain stock-keeping units during price negotiations.
Logitech’s second-quarter guidance projects 1-5% currency-neutral growth and sales between $180-200 million, exceeding analyst expectations by 2-11%.
BNP Paribas Exane believes market consensus overestimates the impact of tariffs on Logitech, noting the company expects a net 100 basis point impact from tariffs, as the gross impact of 200-300 basis points will be partially offset by 200 basis points in pricing adjustments. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value, with comprehensive insights available in the Pro Research Report.
In other recent news, Logitech International reported first-quarter fiscal 2026 earnings that significantly exceeded analyst expectations. The company posted adjusted earnings per share of $1.26, surpassing the anticipated $1.01. Revenue for the quarter reached $1.15 billion, exceeding the consensus estimate of $1.13 billion and marking a 5% increase year-over-year in both US dollars and constant currency. These results reflect strong performance despite challenging market conditions. Investors reacted positively to the news, as evidenced by the 2.5% rise in Logitech’s shares. The earnings report highlights Logitech’s ability to outperform expectations, which could influence future analyst assessments.
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