B. Riley Maintains a Buy Rating on Turtle Beach Corp

By Ryan Adsit

In a report released today, Eric Wold from B. Riley maintained a Buy rating on Turtle Beach Corp (NASDAQ: HEAR), with a price target of $2. The company’s shares closed yesterday at $1.30.

According to TipRanks.com, Wold is a 5-star analyst with an average return of 11.3% and a 61.0% success rate. Wold covers the Services sector, focusing on stocks such as Salem Communications Corp., Reading International Inc, and Cinemark Holdings Inc.

Turtle Beach Corp has an analyst consensus of Moderate Buy, with a price target consensus of $2.30.

Based on Turtle Beach Corp’s latest earnings report from April 30, the company posted quarterly revenue of $929.9M and quarterly net profit of $110.8M. In comparison, last year the company earned revenue of $1.01B and had a net profit of $65.5M.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.

Turtle Beach Corp. engages in the development, manufacture, and sale of audio systems. Its products include headsets for video game consoles, personal computers and mobile devices. It distributes under the Turtle Beach and HyperSound brands. The company was founded by James A. Barnes and Elwood G. Norris on June 2, 2010 and is headquartered in Valhalla, NY.