We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Turtle Beach (HEAR) Soars 11.9%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Turtle Beach (HEAR - Free Report) shares ended the last trading session 11.9% higher at $12.03. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.1% gain over the past four weeks.
Turtle Beach is benefiting from the steady launch of quality products that enables it to enjoy a solid foothold in its served markets. Its headsets are suited for learning and working remotely via video or audio conferencing. Turtle Beach is also profiting as retailers return to normalized inventory replenishment levels. In addition, a solid video game release schedule and normalized console availability is buoying the stock.
This audio technology company is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +470%. Revenues are expected to be $112.43 million, up 11.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Turtle Beach, the consensus EPS estimate for the quarter has been revised 15% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HEAR going forward to see if this recent jump can turn into more strength down the road.
Turtle Beach belongs to the Zacks Communication - Components industry. Another stock from the same industry, AudioCodes (AUDC - Free Report) , closed the last trading session 1.6% higher at $12.22. Over the past month, AUDC has returned -0.7%.
For AudioCodes, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.24. This represents a change of -33.3% from what the company reported a year ago. AudioCodes currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Turtle Beach (HEAR) Soars 11.9%: Is Further Upside Left in the Stock?
Turtle Beach (HEAR - Free Report) shares ended the last trading session 11.9% higher at $12.03. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.1% gain over the past four weeks.
Turtle Beach is benefiting from the steady launch of quality products that enables it to enjoy a solid foothold in its served markets. Its headsets are suited for learning and working remotely via video or audio conferencing. Turtle Beach is also profiting as retailers return to normalized inventory replenishment levels. In addition, a solid video game release schedule and normalized console availability is buoying the stock.
This audio technology company is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +470%. Revenues are expected to be $112.43 million, up 11.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Turtle Beach, the consensus EPS estimate for the quarter has been revised 15% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HEAR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Turtle Beach belongs to the Zacks Communication - Components industry. Another stock from the same industry, AudioCodes (AUDC - Free Report) , closed the last trading session 1.6% higher at $12.22. Over the past month, AUDC has returned -0.7%.
For AudioCodes, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.24. This represents a change of -33.3% from what the company reported a year ago. AudioCodes currently has a Zacks Rank of #3 (Hold).