Logitech (LOGI) Launches Streamlabs Plugin for Loupedeck
Logitech International’s LOGI Logitech G has introduced a new Streamlabs Desktop plugin, which allows users to connect its Loupedeck consoles with Streamlabs. This will enable users to utilize the Loupedeck Console to juggle audio adjustments, post management, greets and scene switches within Streamlabs.
Streamlabs Desktop Software serves as a dashboard solution for streamers to broadcast personalized content on various social media platforms. Streamers using Loupedeck devices, such as Loupedeck Live and Live S, when connected to Streamlabs, can now directly access its controls with customizable and fine-tuned Loupedeck dials.
When connected to Streamlabs, Loupedeck Live and Live S enable creators to customize preset controls, activating Streamlabs’ desktop commands to match their personal preferences and optimize their workflow. Furthermore, creators can fine-tune live-stream audio in real time using Loupedeck dials and check their livestream status on Loupedeck screens.
Logitech International S.A. Price and Consensus
Logitech International S.A. price-consensus-chart | Logitech International S.A. Quote
The Streamlabs plugin caters to both seasoned live streamers and newcomers. Even those with simple setups can benefit from Loupedeck's features, freeing up monitor space when operating on a single screen while accessing Scenes, Sources and Scene Collections on Loupedeck devices.
Logitech acquired Loupedeck in July 2023, expanding its portfolio in Gaming and Streaming. The acquisition is expected to enhance LOGI’s ability to provide customizable and contextual control experiences for the company’s full portfolio of devices, including the Logitech Software Roadmap solution.
Loupedeck offers deep native integrations with industry-leading creative software for photo editing, retouching, video editing, color grading design and streaming. Its custom consoles combine analog control with digital precision to offer power and flexibility to all creators. With this buyout, the company will leverage Loupedeck’s strong and growing developer community that will unveil advanced innovation, empowering streamers, creators and gamers.
The introduction of this new solution will enable Logitech to extend its product offerings toward the untapped market. The launch of the Streamlabs plugin for Loupedeck is part of a series of product launches in the second quarter of 2024, which also included the Wave Keys Keyboards, Logitech G PRO X TKL LIGHTSPEED Gaming Keyboard, Logitech G PRO X SUPERLIGHT 2 Gaming Mouse and the latest generation of Yeti microphones.
Shares of Logitech have outperformed the Zacks Computer – Peripheral Equipment industry in the year-to-date (YTD) period. Shares of LOGI have gained 14.8% YTD compared with the Computer – Peripheral Equipment industry’s rise of 3.6%.
Logitech Focuses on Expanding Product Portfolio
The company intends to tap the high-potential market for accessories by pursuing innovation and expanding its product lines. The company has manufactured innovative offerings like the fastest performing mouse and keyboard switches, wireless mouse with longest battery and multi-device keyboards, among others.
Logitech’s sustained focus on introducing new and innovative products might boost sales and somewhat offset the negative impact of the weakened demand for PC peripheral products. In 2020 and 2021, LOGI benefited from the elevated demand for its Video Collaboration, PC Webcams, Keyboards & Combos and Pointing Device tools, mainly driven by the heightening of work-from-home and learn-from-home trends.
However, the weakening global economy amid ongoing macroeconomic and geopolitical issues enhanced global recessionary concerns, thereby prompting enterprises to postpone their large IT spending plan. Furthermore, continued industry layoffs due to growing recessionary concerns are hampering the demand for PC peripheral products by organizations.
The aforementioned factors are hurting Logitech’s financial performance. In first-quarter fiscal 2024, the company’s revenues and non-GAAP earnings per share declined 16% and 12%, respectively, on a year-over-year basis.
Zacks Rank and Other Stocks to Consider
Currently, Logitech carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader technology sector are Applied Materials AMAT, Palo Alto Networks PANW and Splunk SPLK, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Applied Materials’ fourth-quarter fiscal 2023 earnings has been revised upward by 5 cents to $1.98 per share in the past 30 days. For fiscal 2023, earnings estimates have moved upward by 5 cents to $7.90 per share in the past 30 days.
AMAT's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 10.43%. Shares of AMAT have gained 48.9% year to date.
The Zacks Consensus Estimate for Palo Alto’s first-quarter fiscal 2024 earnings has been revised by 6 cents northward to $1.16 per share in the past 60 days. For fiscal 2024, earnings estimates have increased by 39 cents to $5.34 in the past 60 days.
PANW's earnings beat the Zacks Consensus Estimate in the preceding three quarters while missing the same on one occasion, the average surprise being 22.19%. Shares of PANW have rallied 86.8% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 155%. Shares of SPLK have surged 71.6% year to date.
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