Gaming accessories frontrunner,
Turtle Beach Corporation
’s
HEAR
brand, ROCCAT, recently unveiled a white color variant of its much-hyped Elo 7.1 Air wireless PC gaming headset. The Elo 7.1 Air is considered a premium wireless model of the Elo Series PC gaming headsets, equipped with versatile software. Ideal for gaming enthusiasts, the headset was originally launched in black color variant alongside wired Elo X Stereo and Elo 7.1 USB.
Markedly, the San Diego, CA-based audio technology company acquired ROCCAT, a German PC peripherals maker, in 2019. ROCCAT’s expertise aided Turtle Beach’s expansion into the $1.6-billion personal computer gaming headset market as well as the $1.3-billion PC gaming keyboard and mouse market. ROCCAT’s enhanced distribution channels across North America, Europe and Asia enabled Turtle Beach to offer its lineup of products to more gamers globally.
It is worth mentioning that robust demand for gaming gear along with an upsurge in work-from-home trend also played a vital role in amplifying Turtle Beach’s position in the global market. The Elo 7.1 Air headset is supported by state-of-the-art wireless technology with 360° visual audio surround sound. The cable-free design driven by a reliable connectivity makes it all the more appealing to customers.
It includes a self-adjusting metal headband and rotating earcup hinges for additional flexibility. It automatically boosts critical in-game sounds on the back of Superhuman Hearing functionality to deliver an ultimate hearing experience. With a 24-hour rechargeable battery, the headset facilitates gamers with more than a week’s play time. Moreover, its AIMO illumination ecosystem adds organic light without the requirement of a cumbersome configuration process. Currently, it is available in the market at $99.99 MSRP.
Notably, in the beginning of 2021, Turtle Beach acquired Neat Microphones — the maker of high-quality digital USB and analog microphones — aiding the former’s entry into the $2.3 billion global microphone market. The move diversifies Turtle Beach’s product portfolio into new categories while complementing ROCCAT’s offerings in console and PC accessories. Turtle Beach is known for its excellent microphone performance in gaming headsets. Neat’s cutting-edge technology is likely to enhance its industry-leading product line. The Neat brand expands the company’s reach beyond gaming with a wider variety of consumer audio products.
Markedly, Turtle Beach is well positioned to benefit from a robust product performance combined with market share gains, backed by innovation, quality products and retail partnerships. It has several growth drivers in place and enjoys a solid foothold in its served markets. Its headsets are suited for learning and working remotely via video or audio conferencing. The combination of increased gaming activity and distance learning should continue to boost the demand for headsets amid the pandemic situation. Also, the company’s ability to significantly increase its production and delivery capacity is impressive.
Turtle Beach currently has a Zacks Rank #3 (Hold). The stock has surged 165.7% compared with the
industry
’s growth of 62.8% in the past year. It has a long-term earnings growth expectation of 16%.
.jpg)
Some better-ranked stocks in the broader industry are
Altice USA, Inc.
ATUS
,
Corning Incorporated
GLW
and
Aviat Networks, Inc.
AVNW
. While Altice USA sports a Zacks Rank #1 (Strong Buy), Corning and Aviat Networks carry a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Altice USA delivered a trailing four-quarter earnings surprise of 61.5%, on average.
Corning delivered a trailing four-quarter earnings surprise of 39%, on average.
Aviat Networks delivered a trailing four-quarter earnings surprise of 57.3%, on average.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report