ROCCAT gaming accessory demand is boosting Turtle Beach

February 26, 2021

Turtle Beach (HEAR)

We sent a HEAR Bullish alert in December when the stock was trading below $21. Since then shares gained by as much as 66%, now settling around $29 heading into earnings next week.

In the meantime, consumer demand for Turtle Beach gaming accessories has accelerated, currently pacing +82% YoY.

The ROCCAT brand is driving demand, alongside Stealth headset mentions.

ROCCAT brand demand

ROCCAT brand Purchase Intent increased +313% YoY in the last 90 days, and the brand's consumer happiness improved +9% YoY in the same time frame (to 84% positive).

On its last earnings call, HEAR leadership made two points that caught our eye:

  1. Consumers love the ROCCAT brand, which our data certainly corroborates: "During Q3, we launched the first of our new line of PC headsets, 3 ROCCAT Elo models that have received rave reviews. One professional reviewer couldn't seem to get past the fact that our entry-level $49 model sounded better than his far more expensive headsets."
  2. The company is leaning into PC gaming, a segment poised for growth: "our first goal is to create an incremental $100 million business in PC accessories, and longer term, our goal is to lead the PC gaming accessories categories for headsets, keyboards and mice."

LikeFolio PC gaming mentions increased +30% YoY in the last quarter, outperforming console gaming trends by ~20 points. In addition, online gaming mentions continue to gain steam.

Turtle Beach will release 20Q4 results March 4 after the bell.

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