Jack Vander Aarde, an analyst from Maxim Group, reiterated the Buy rating on Turtle Beach (TBCH – Research Report). The associated price target is $24.00.
Jack Vander Aarde has given his Buy rating due to a combination of factors that highlight Turtle Beach’s promising financial outlook. The company’s recent acquisition of Performance Designed Products (PDP) has significantly bolstered its scale and product diversity, contributing to a substantial increase in revenue and adjusted EBITDA. Despite a slight miss in the fourth quarter results compared to consensus estimates, the results were within the company’s guidance, and the acquisition is expected to continue providing cost synergies and revenue growth.
Moreover, Turtle Beach has maintained its leadership in the gaming headset market, outperforming the broader gaming accessories market. The management’s guidance for 2025 suggests a strong adjusted EBITDA margin, which exceeds previous estimates, indicating robust profitability prospects. Additionally, the company’s strategic share repurchase plan and strong cash flow position further support the Buy rating, as they demonstrate financial stability and a commitment to enhancing shareholder value.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $21.00 price target.
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