Logitech Q1 Beats, Boosts Revenue Outlook; Bullish Stance On Verrica Pharma
- July 25th, 2023
- 261 views
Logitech International S.A. (Nasdaq: LOGI) announced its first-quarter fiscal 2024 results, with earnings per share (EPS) of $0.65 and revenue of $974.5 million, surpassing the consensus estimate of $0.46 on revenue of $919.69 million.
Following this strong performance, Logitech has raised its outlook for the first half of Fiscal Year 2024. The company now expects revenue to be in the range of $1.875 billion to $1.975 billion, up from the previous range of $1.8 billion to $1.9 billion.
$LOGI is trading at $65.80 in pre-market, reflecting an increase of $2.84 (+4.51%).
In other news, Verrica Pharmaceuticals Inc. (Nasdaq: VRCA), a pharmaceutical company focused on developing medical solutions for various skin conditions, received a notable upgrade from Needham, who shifted its rating from Hold to Buy. In addition to the upgrade, Needham also announced a price target of $10.
Considering $VRCA closed at $5.11 on Monday, the stated price target suggests a potential upside of $4.89 or approximately 95.50% for $VRCA, as per the view of the brokerage firm.
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