Tuesday, April 09, 2019 1:50:34 PM
Apr. 9, 2019 1:47 PM ET|About: Turtle Beach Corporation (HEAR)|By: Jason Aycock, SA News Editor
D.A. Davidson has affirmed its Buy rating on Turtle Beach (HEAR -0.2%), calling the company a beneficiary of the "freemium" wave among videogame business models.
The company should be able to exploit the secular shifts in gaming, the firm's analyst Tom Forte writes after meeting with Turtle Beach's CEO. The success of titles like Fortnite and Apex Legends will only pressure more publishers to enter the freemium space, which could be a catalyst "because gamers will have a larger budget to spend on gaming accessories, specifically headsets, by not having to pay for video games that would typically cost $60." (h/t Bloomberg)
That should lead to significant free cash flow, he says.
He has a price target of $23, roughly Street average, which implies 94% upside.
https://seekingalpha.com/news/3449395-davidson-expects-turtle-beach-benefit-freemium-gaming
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