Logitech raises its sales forecasts 60% and soars in the stock market

January 19, 2021 14:30

The shares of Logitech International register a rise of more than 5% in the pre-open of the market after revising up the growth of sales in 2021. Specifically, the PC peripherals company estimates growth in sales this year of between 57% to 60% and an increased quarterly operating income. 

Logitech is one of the great beneficiaries of the Covid-19 pandemic as it has caused an increase in demand for hardware to improve the work from home experience, as well as accessories for video games and other leisure activities related to computers.

In the third quarter alone, Logitech sales increased 85% to $ 1.67 billion according to Reuters. 

These good results have been reflected in the price of Logitech on the stock market: it closed 2020 with a revaluation of 106% to $ 97.19 per share. In 2019 they rebounded more than 50%, in 2018 they fell by 7%, in 2017 they rose by 35.81% and in 2016 by 64%.

Source: Admiral Markets MetaTrader 5. Logitech CFD Daily Chart. Data range: from January 23, 2019 to January 19, 2021. Prepared on January 19, 2021 at 12 noon CET. Keep in mind that past returns do not guarantee future returns.

As we see in the graph, Logitech shares have followed a very pronounced uptrend since the Covid-19 pandemic began.

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