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Wedbush Securities Expects Turtle Beach Q4:14 Results To Reflect Negative Preannouncement

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In a report published Thursday, Wedbush Securities analyst Michael Pachter reiterated an Outperform rating and $10.00 price target on Turtle Beach Corp. (NASDAQ: HEAR).

In the report, Wedbush Securities noted, "On January 12, Turtle Beach preannounced that its FY:14 net sales were expected to come in at the low end of its guidance range of $185-195 million. Current-gen headset sales were hurt by faster-than-expected declines as users held off purchases, and discounting by competitors created headwinds. These negative impacts offset a strong response to new products and international growth. Management also mentioned West Coast port issues worsened as Q4 progressed. Prior guidance called for Q4 net headset sales of $91-101 million, adjusted EBITDA for the headset business of $19-21 million, and company adjusted EBITDA of $16-18 million."

Turtle Beach closed on Wednesday at $2.30.

Latest Ratings for HEAR

DateFirmActionFromTo
Nov 2020WedbushUpgradesNeutralOutperform
Sep 2020StifelInitiates Coverage OnBuy
Apr 2020WedbushDowngradesOutperformNeutral

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Posted-In: Michael Pachter Wedbush SecuritiesAnalyst Color Reiteration Analyst Ratings

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