After D.A. Davidson and Oppenheimer gave Turtle Beach Corp (NASDAQ: HEAR) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Nehal Chokshi initiated coverage with a Buy rating on Turtle Beach Corp today and set a price target of $26. The company’s shares closed yesterday at $16.25.
“March quarter revenue guidance above typical seasonal levels, management assumes least positive reason at play, per our analysis. Conservatism, return to normal promotional environment, plus ROCCAT investment to accelerate penetration of PC gaming peripheral space takes 2019 EPS guidance to well-below our more bullish bottom-line estimates. Slightly reducing price target to $26, from $28 as we extend our basis out by 1 year to allow for investments to mature.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 9.9% and a 57.0% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Turtle Beach Corp has an analyst consensus of Strong Buy, with a price target consensus of $27.60, representing a 69.8% upside. In a report issued on March 12, D.A. Davidson also maintained a Buy rating on the stock with a $26 price target.
Based on Turtle Beach Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $14.72 million. In comparison, last year the company had a net profit of $14.23 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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Turtle Beach Corp. engages in the development, commercialization, and marketing of innovative products. It operates through the Headset, and HyperSound segments.