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Maxim Group Thinks Turtle Beach’s Stock is Going to Recover

In a report released yesterday, Jack Vander Aarde from Maxim Group reiterated a Buy rating on Turtle Beach (HEARResearch Report), with a price target of $30.00. The company’s shares closed last Thursday at $14.81, close to its 52-week low of $14.32.

According to TipRanks.com, Aarde is a 5-star analyst with an average return of 46.6% and a 39.8% success rate. Aarde covers the Technology sector, focusing on stocks such as Summit Wireless Technologies, BIO-key International, and Super League Gaming.

Turtle Beach has an analyst consensus of Moderate Buy, with a price target consensus of $25.00, implying a 37.3% upside from current levels. In a report issued on April 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $25.00 price target.

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Turtle Beach’s market cap is currently $244.1M and has a P/E ratio of 15.20.

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Turtle Beach Corp. engages in the development, commercialization, and marketing of audio peripherals. It operates through the Headset and HyperSound business segments. The Headset segment offers gaming headset solutions for video game and entertainment consoles, personal computers, and mobile and tablet devices. The HyperSound segment refers to a patent-protected sound technology that delivers immersive, directional audio with applications in digital signage and kiosks, consumer electronics, and hearing healthcare. The company was founded by Elwood G. Norris and James A. Barnes in 1975 and is headquartered in San Diego, CA.

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