Home > Boards > US Listed > Computers - Software > Turtle Beach Corp. (HEAR)

Sell-Side Likes Turtle Beach Earnings, Future In Battle

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
realfast95 Member Profile
Member Level 
Followed By 53
Posts 15,377
Boards Moderated 0
Alias Born 11/29/06
160x600 placeholder
Turtle Beach PC Brand - ROCCAT - Joins Forces With Shellback Tech To Give America's Disabled Veterans & Disabled First Respon... PR Newswire (US) - 10/19/2020 8:30:00 AM
ROCCAT's All-New Elo Series PC Gaming Headsets Available At Participating Retailers Worldwide Sunday, October 4, 2020 PR Newswire (US) - 10/1/2020 8:30:00 AM
ROCCAT Unveils The All-New Burst Pro PC Gaming Mouse Featuring The Titan Optical Switch - Lightweight, Symmetrical, And Up To... PR Newswire (US) - 9/29/2020 8:30:00 AM
ROCCAT Debuts Performance Optical Switches Plus New Variants Of Its Award-Winning Vulcan Series PC Gaming Keyboards PR Newswire (US) - 9/22/2020 8:30:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 9/18/2020 6:40:34 PM
Turtle Beach's New Stealth 700 Gen 2 And Stealth 600 Gen 2 Headsets For Xbox One, Xbox Series X | S, PlayStation 4, And PlayS... PR Newswire (US) - 9/17/2020 8:30:00 AM
ROCCAT Reveals The Elo Series PC Gaming Headsets - The First Products In The Brand's New Lineup Of Precision PC Gaming Access... PR Newswire (US) - 9/14/2020 8:30:00 AM
Turtle Beach Laces Up With Kickstradomis To Create Unique Custom Gear & Activations PR Newswire (US) - 9/10/2020 4:15:00 PM
Turtle Beach Reports Retail Console Gaming Headset Sales In North America Set Record For July PR Newswire (US) - 8/19/2020 8:30:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/17/2020 7:55:11 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 8/17/2020 7:53:01 PM
Introducing Stealth 700 Gen 2 And Stealth 600 Gen 2 - The Next Generation Of Turtle Beach's Best-Selling Wireless Gaming Head... PR Newswire (US) - 8/13/2020 8:30:00 AM
Turtle Beach Introduces Specialized Bundles To Improve Everyone's Work From Home And Online Learning Experiences PR Newswire (US) - 8/10/2020 8:30:00 AM
Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) Edgar (US Regulatory) - 8/10/2020 6:06:54 AM
Turtle Beach Reports Record Second Quarter 2020 Results And Significantly Raises Full-Year Outlook PR Newswire (US) - 8/6/2020 7:00:00 AM
Quarterly Report (10-q) Edgar (US Regulatory) - 8/6/2020 6:22:18 AM
Turtle Beach Corporation To Report Second Quarter 2020 Financial Results On Thursday, August 6, 2020 PR Newswire (US) - 7/23/2020 8:30:00 AM
Turtle Beach And ROCCAT Team-Up With Pop Culture And Esports Creator And Host Erin Ashley Simon PR Newswire (US) - 7/15/2020 4:05:00 PM
Turtle Beach To Be Added To Russell 3000® Index PR Newswire (US) - 6/25/2020 8:30:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 6/23/2020 4:31:16 PM
Turtle Beach Increases Sales Outlook For Second Quarter Of 2020 PR Newswire (US) - 6/16/2020 6:30:00 AM
Top YouTubers Ali-A And Clare Siobhan Team-Up With ROCCAT For PC Gaming Accessories Partnership PR Newswire (US) - 6/10/2020 8:30:00 AM
Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 6/4/2020 8:31:11 AM
Turtle Beach Changes 2020 Annual Meeting of Stockholders to Virtual-Only Due to COVID-19 PR Newswire (US) - 6/4/2020 8:30:00 AM
Specialized Disclosure Report (sd) Edgar (US Regulatory) - 5/29/2020 4:56:08 PM
realfast95 Member Level  Friday, 05/10/19 07:04:24 AM
Re: None
Post # of 939 
Sell-Side Likes Turtle Beach Earnings, Future In Battle Royale World
Dave Royse , Benzinga Staff Writer
May 09, 2019 10:41am

https://www.benzinga.com/analyst-ratings/analyst-color/19/05/13705270/sell-side-likes-turtle-beach-earnings-future-in-battle-royale-world#/.XNQ8G2rfgAM.twitter

Sell-Side Likes Turtle Beach Earnings, Future In Battle Royale World

Wall Street analysts continue to like gaming headset maker Turtle Beach Corp
HEAR 0.28%
, even as investors were selling the stock Thursday morning following a first-quarter revenue and earnings beat.

Analysts acknowledge an expected 2019 revenue drop after a big 2018, but say the large and growing market of gamers playing multiplayer “battle royale” games isn’t going away and will boost the company in the long run.

Turtle Beach reported earnings of 9 cents per share, ahead of the 6-cent Street estimate. Revenue in the quarter was up nearly 10 percent year-over-year to $44.8 million, beating estimates by nearly $3 million, and well ahead of management’s initial guidance.
'Extremely Encouraged'

D.A. Davidson analyst Tom Forte continues to see opportunities for full-year sales upside from more games being offered on a “freemium” basis, where players play for free, but can buy in-game upgrades. Forte also sees upside on a faster refresh cycle. Management looks good too, he said.

“We are extremely encouraged by the top-line and bottom-line beat,” Forte wrote in a note. “This further emphasizes our confidence in Turtle Beach’s management's ability to execute its strategy.”

Forte reiterated a Buy rating on Turtle Beach and increased the price target from $23 to $26.

Related Link: Turtle Beach Sells 30 Million Headsets, DA Davidson Says Guidance Remains 'Ultra Conservative'
Battle Royale More Than A Fad

Wedbush analyst Michael Pachter remains bullish because Turtle Beach headsets have for years been favored by gamers in multiplayer games, known as battle royale games. But now those multiplayer games are the rage, and that’s not changing soon.

“We continue to view Battle Royale as far more than a fad, and think it will last for many years,” Pachter wrote. “Turtle Beach is the favored brand among console gamers, and as we see an uptick in multiplayer and Battle Royale gaming, the company should continue to gain share.”

Pachter also likes Turtle Beach’s recent acquisition of German PC accessories company ROCCAT, which gives Turtle Beach the chance to expand its product reach and its presence internationally.

Pachter is keeping an Outperform rating on the stock, but lowered the price target from $22 to $20.
Price Action

Turtle Beach stock ran up after the earnings beat Wednesday but was giving some gains. Shares were down more than 6 percent to $10.13 at time of publication.

Photo courtesy of Turtle Beach.
Latest Ratings for HEAR

Date Firm Action From To
Mar 2019 Maintains Outperform Outperform
Aug 2018 Maintains Outperform Outperform
Aug 2018 Maintains Outperform Outperform

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences