Turtle Beach TBCH shares rallied 17.1% in the last trading session to close at $12.10. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 26.7% loss over the past four weeks.
The upswing was likely driven by a broader market rally following US President Donald Trump’s announcement of pausing the reciprocal tariffs for 90 days. However, a baseline tariff of 10% on imports would continue to apply.
This audio technology company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -123.8%. Revenues are expected to be $62.33 million, up 11.6% 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 88.9% 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 TBCH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Turtle Beach is part of the Zacks Computer - Peripheral Equipment industry. Identiv, Inc. INVE, another stock in the same industry, closed the last trading session 6.4% higher at $3.17. INVE has returned -13.6% in the past month.
Identiv's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. Compared to the company's year-ago EPS, this represents a change of -14.3%. Identiv currently boasts a Zacks Rank of #3 (Hold).
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Turtle Beach Corporation (TBCH): Free Stock Analysis Report Identiv, Inc. (INVE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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