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Turtle Beach Corporation (HEAR) operates as an audio technology company.
It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, handheld consoles, personal computers, and mobile and tablet devices under the Turtle Beach brand.
The company also offers gaming headsets, keyboards, mice, and other accessories for the personal computer peripherals market under the brand of ROCCAT.
It serves retailers, distributors, and other customers in North America, South America, Europe, the Middle East, Africa, Australia, and Asia.
Turtle Beach Corporation reported 3rd Quarter September 2020 earnings of $1.05 per share on revenue of $112.5 million. The consensus earnings estimate was $0.35 per share on revenue of $84.4 million. Revenue grew 140.8% on a year-over-year basis.
The company said it expects 2020 earnings of approximately $1.75 per share on revenue of approximately $330.0 million. The company's previous guidance was earnings of approximately $0.80 per share on revenue of approximately $300.0 million and the current consensus earnings estimate is $1.18 per share on revenue of $302.13 million for the year ending December 31, 2020.
This stock should be moving higher as it has recently been valued for more than 38% of its current share price. As the new strain of COVID-19 enters the United States, demand for the company's increase will likely increase.
Entry Point: $22.50
Trading Range: $4.05 - $26.48
Stop Loss: $21.40
Target Price: $24.75
closed at $20.70
