Recently, Turtle Beach Corporation HEAR announced its partnerships with two French gaming influencers — Skyrroz and Inoxtag. The strategic decision will certainly boost the San Diego, CA-based audio technology company along with ROCCAT’s growing presence in the French gaming market.
Skyrroz and Inoxtag have a large fan audience across Call of Duty and Fortnite. They also have the latest gear from Turtle Beach and ROCCAT, which will drive growth of the brands in the market. Skyrroz is one of the recognized faces in the Call of Duty scene in France. The content creator currently uses a range of Turtle Beach headsets. This includes the Elite Pro 2, a gaming headset designed for competitive console gamers, and the popular Elite Atlas.
Inoxtag is a major player in the country’s gaming scene. Known for his Fortnite content, Inoxtag has been using ROCCAT products for a year. He is currently using the Kain 200 AIMO wireless mouse and the Vulcan 121 AIMO keyboard. These two gaming accessories have been much-admired by gaming and tech media.
On Jun 16, Turtle Beach raised its revenue outlook for the second quarter of 2020, thanks to strong demand for its products and substantial increases in product supply. The company aims to expand from being the leader in console gaming headsets into becoming a top gaming accessory brand for all platforms.
It is positioned to benefit from a solid product performance combined with market share gains, supported by innovation, strong brand and retail partnerships. The combination of increased gaming activity, distance learning and work-from-home trends should continue to drive higher demand for headsets.
In 2019, the company acquired ROCCAT, a Germany-based PC peripherals maker, for $15.6 million in cash. ROCCAT’s expertise has accelerated Turtle Beach’s expansion into the $1.6-billion PC gaming headset market, and $1.3-billion PC gaming keyboard and mice market. Further, the enhanced distribution channels across North America, Europe and Asia enabled Turtle Beach to offer its lineup of products to more gamers around the world.
Backed by proper execution of operational strategies, shares of Turtle Beach have surged 90% against 9.5% decline of the industry in the past six months.
The company has a trailing four-quarter positive earnings surprise of 46.4%, on average. The Zacks Consensus Estimate for its current-year earnings has been revised as much as 5,500% upward in the past 30 days.
Turtle Beach Corporation Price and Consensus
Turtle Beach Corporation price-consensus-chart | Turtle Beach Corporation Quote
Turtle Beach currently sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of A.
Some other top-ranked stocks in the broader industry are T-Mobile US, Inc. TMUS, Nokia Corporation NOK and Ciena Corporation CIEN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
T-Mobile has a trailing four-quarter positive earnings surprise of 19.4%, on average.
Nokia has a trailing four-quarter positive earnings surprise of 129.1%, on average. The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters.
Ciena has a trailing four-quarter positive earnings surprise of 25.6%, on average. Its earnings topped the consensus estimate in three of the last four quarters.
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