Turtle Beach price target lowered to $17.50 from $20 at Oppenheimer

Oppenheimer analyst Martin Yang lowered the firm’s price target on Turtle Beach (TBCH) to $17.50 from $20 and keeps an Outperform rating on the shares. The firm notes the company delivered strong Q1 results with 14% year-over-year growth in revenue and nearly 500bps gross margin expansion. Following the “Liberation Day” announcement of higher tariffs on China, management quickly shifted its U.S. products to be manufactured in Vietnam. Management also lowered annual guidance to account for more macro uncertainty and the delay of GTA 6 from fall 2025 to May 2026, Oppenheimer adds.