Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Turtle Beach’s Q4 Pre-Announcement Confirms Positive Gaming Data, Says Bullish DA Davidson

Courtesy of Benzinga.

Turtle Beach's Q4 Pre-Announcement Confirms Positive Gaming Data, Says Bullish DA Davidson

Gaming headset manufacturer Turtle Beach Corp (NASDAQ: HEAR) pre-announced its Q4 results Thursday that include above-consensus sales, adjusted EBITDA and EPS.

The Analyst

D.A. Davidson analyst Tom Forte reiterated a Buy rating on Turtle Beach and lowered the price target from $30 to $26.

The Thesis

The positive pre-announcement is seen as a culmination of the following, Forte said in a Friday note:

Positive data points from NPD Group that said seven of the top 10 headsets sold in the North American market were from Turtle Beach.

Strong comps reported by GameStop Corp. (NYSE: GME) for the holiday period.

Commentary on the strength of “Fortnite”  by Electronic Arts Inc. (NASDAQ: EA)

With the emerging trend being social gaming, the analyst said he is encouraged by the implications for Turtle Beach.

Fortnite has expanded the gaming category to include younger consumers and females, and therefore when the refresh cycle materializes, it will be coming off a materially larger base, Forte said. 

As the company laps the success of “Fortnite,” D.A. Davidson now estimates a 10-percent decline in sales, lowered from its previous estimates for flat sales.

The Price Action

Turtle Beach shares were up 0.82 percent at $15.98 at the close Friday. 

Related Links:

DA Davidson: Strong Gaming Accessory Sales A Bullish Signal For Turtle Beach

Jim Cramer Weighs In On AutoZone, Chevron, Turtle Beach And More

Photo courtesy of Turtle Beach. 

Latest Ratings for HEAR

Date Firm Action From To
Aug 2018 Oppenheimer Maintains Outperform Outperform
Aug 2018 Wedbush Maintains Outperform Outperform
Jul 2018 DA Davidson Initiates Coverage On Buy

View More Analyst Ratings for HEAR


View the Latest Analyst Ratings

Posted-In: DA DavidsonAnalyst Color Earnings News Guidance Price Target Reiteration Analyst Ratings Best of Benzinga


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!