Turtle Beach Skids On Slowing Sales Outlook For Gaming Headsets

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Turtle Beach stock received two price-target cuts on Wednesday amid signs of slowing growth ahead for the gaming headset maker.XOppenheimer analyst Andrew Uerkwitz slashed his price target on Turtle Beach ( HEAR ) to 24 from 35, but reiterated his outperform rating.Some news accounts indicated that Turtle Beach fell short of expectations due to reports of analyst estimates being higher."As for 2019, while we believe a year-over-year sales decline is probable, the balance sheet transformation HEAR accomplished in 2018 will allow it to deliver stable long-term growth beyond 2019," Uerkwitz said.Pachter noted that headset demand remains strong, but Turtle Beach is facing increased competition that could pressure average selling prices.

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