Down 56% From Its Highs, This Beaten-Down Stock Looks Like an Enticing Buy
Shares of Logitech International (NASDAQ: LOGI) have fallen off a cliff over the past year after it emerged that the computer peripherals manufacturer's pandemic-driven sales surge is over.
Logitech's products were in great demand in 2020 as people scrambled to buy computer peripherals to work, learn, or play from home. But those heydays are long gone, and Logitech stock has shed nearly 56% of its value from its 52-week high that it hit on June 9 last year. And now, it appears that the Russia-Ukraine war is going to pose another challenge for the company at just the time when it was expecting to step on the gas.
Logitech released its fiscal 2022 fourth-quarter results for the three months ending on March 31, 2022, on May 2. The numbers make it clear that the tough times endured by the company last year are here to stay. Not surprisingly, investors pressed the panic button, and Logitech stock shed 3% of its value following the results. However, a closer look indicates that there are certain silver linings that could help Logitech stock regain its mojo in the long run.
Source Fool.com
