Turtle Beach Corp (HEAR) Received its Third Buy in a Row

By Jason Carr

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 reiterated a Buy rating on Turtle Beach Corp today and set a price target of $26. The company’s shares closed yesterday at $10.81, close to its 52-week low of $10.15.

Chokshi observed:

“Results healthily above guidance, even when normalizing for channel inventory fill, demonstrating that incremental Fortnite users are refreshing and/or upgrading their headsets. Maintained CY19 guidance suggests secular installed base growth continues, further eroding a key long-term bear thesis that installed base will not grow. Brand leader in a secular growth market at 6x EPS is compelling; reiterating Buy rating & 12-month price target of $26.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 8.6% 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.

Currently, the analyst consensus on Turtle Beach Corp is a Strong Buy with an average price target of $22.60, implying a 109.1% upside from current levels. In a report issued on May 1, D.A. Davidson also reiterated a Buy rating on the stock with a $23 price target.

See today’s analyst top recommended stocks >>

Turtle Beach Corp’s market cap is currently $154.2M and has a P/E ratio of 4.46. The company has a Price to Book ratio of 4.11.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Turtle Beach Corp. engages in the development, commercialization, and marketing of audio peripherals. It operates through the Headset and HyperSound business segments. The Headset segment offers gaming headset solutions for video game and entertainment consoles, personal computers, and mobile and tablet devices.