Turtle Beach (NASDAQ:TBCH) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush has raised Turtle Beach's price target from $12.00 to $13.50, maintaining a "neutral" rating, despite indicating a potential downside of 3.50% from the current stock price.
• Craig Hallum has decreased their price target on Turtle Beach to $16.00 while keeping a "buy" rating, reflecting differing outlooks among analysts.
• The company's latest financial results showed earnings per share of ($0.03), surpassing expectations, with revenue of $63.90 million, exceeding analyst estimates.

Turtle Beach (NASDAQ:TBCH - Get Free Report) had its price objective increased by investment analysts at Wedbush from $12.00 to $13.50 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Wedbush's price objective indicates a potential downside of 3.50% from the company's current price.

Separately, Craig Hallum lowered their target price on shares of Turtle Beach from $23.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, May 9th.

Turtle Beach Trading Down 0.1%

TBCH opened at $13.99 on Monday. The firm has a market capitalization of $281.90 million, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.96. The business's fifty day simple moving average is $13.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 1.96. Turtle Beach has a 1-year low of $8.78 and a 1-year high of $19.50.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. The firm had revenue of $63.90 million during the quarter, compared to analyst estimates of $62.33 million. Turtle Beach had a net margin of 4.03% and a return on equity of 15.59%. As a group, equities analysts forecast that Turtle Beach will post 1.17 earnings per share for the current fiscal year.

Institutional Trading of Turtle Beach

Several large investors have recently added to or reduced their stakes in TBCH. North Star Investment Management Corp. bought a new position in Turtle Beach in the 2nd quarter worth about $3,153,000. Signaturefd LLC purchased a new stake in Turtle Beach during the 2nd quarter valued at approximately $41,000. CWM LLC bought a new position in shares of Turtle Beach during the 2nd quarter valued at approximately $65,000. AlphaQuest LLC bought a new stake in Turtle Beach in the second quarter worth $52,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Turtle Beach during the second quarter worth $154,000. Institutional investors own 67.01% of the company's stock.

Turtle Beach Company Profile

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.

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