Roth MKM analyst Sean McGowan raised the firm’s price target on Turtle Beach to $17 from $16 and keeps a Buy rating on the shares. While the company’s Q2 sales and gross margins rose, it was not as much as expected, the analyst tells investors in a research note. The firm adds however that the management’s FY24 EBITDA run-rate view of $25M-$30M suggests that profitability could be much higher than the consensus estimate of $21M.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on HEAR:
- Turtle Beach sees FY23 revenue $265M-$270M, consensus $270.29M
- Turtle Beach reports Q2 adjusted EPS (41c), consensus (34c)
- Turtle Beach options imply 8.0% move in share price post-earnings
- HEAR Earnings this Week: How Will it Perform?
- SPOT, TTWO, HEAR: 3 Strong-Buy-Rated Entertainment Stocks Analysts Love
