Analyst Likes Amazon, Logitech, Turtle Beach After Fortnite World Cup

Brett Hershman

Tue, Jul 30, 2019, 3:13 PM

In this article:

After the success of the Fortnite World Cup Finals in New York over the weekend, D.A. Davidson said the battle royale game franchise is "alive and well.

The event is a positive data point for the emergence of esports, analyst Tom Forte said in a Monday note.

The analyst said he recommends investors purchase shares of Turtle Beach Corp (NASDAQ: HEAR), Logitech International SA (NASDAQ: LOGI) and Amazon.com, Inc. (NASDAQ: AMZN) as plays on the sector.

The Fortnite World Cup solidifies the view that esports represents a secular shift and is a global phenomenon, not a fad, Forte said.

The "Fortnite" franchise is durable and has secured a place in a growing esports universe, he said.

Kyle "Bugha" Giersdorf took home the singles division championship and the $3-million prize at the tournament.

Overall, Epic Games offered $30 million in prize money at the Fortnite World Cup Finals.

Related Links:

Who Profits From The Incredible Success Of 'Fortnite'?

GameStop Continues To Suffer After Mixed Q1 Report, Eliminating Dividend

Latest Ratings for HEAR

Mar 2019	Maintains	Outperform	Outperform
Aug 2018	Maintains	Outperform	Outperform
Aug 2018	Maintains	Outperform	Outperform

View More Analyst Ratings for HEAR
View the Latest Analyst Ratings

See more from Benzinga

Trump Media stock jumps for second day as company goes to battle with short sellers
Trump Media is advising investors on ways to prevent their shares from being loaned for a short-interest position.
Yahoo Finance•3h ago
Billionaire Warren Buffett Recently Cut This Stock From Berkshire Hathaway's Portfolio. It Just Dropped 53% In 1 Day. Here's What Investors Need to Know.
The insurer was accused by a short-seller of "extensive" fraud.
Motley Fool•1d ago
Kinder Morgan (KMI) Beats on Q1 Earnings, Hikes Dividend
Kinder Morgan's (KMI) Q1 earnings gain from increased financial contributions from the Natural Gas Pipelines, Products Pipelines and Terminals business segments.
Zacks•4h ago
DJT Stock Jumps. The Truth Social Owner Is Showing Stockholders How to Block Short Sellers.
An FAQ on the Truth Social owner’s website gave stockholders multiple ways to avoid their shares being lent to short sellers.
Barrons.com•5h ago
The Most Active Stock Trader in Congress Is Buying Shares of This Magnificent Stock-Split Stock
Wall Street's most-prominent stock-split stock of 2024 has been purchased on three separate occasions by a lawmaker who completed over 4,200 trades last year.
Motley Fool•11h ago
Google Fires 28 Workers Protesting $1.2 Billion Israeli Contract
(Bloomberg) -- Alphabet Inc.’s Google has fired 28 employees after they were involved in protests against Project Nimbus, a $1.2 billion joint contract with Amazon.com Inc. to provide the Israeli government and military with AI and cloud services.Most Read from BloombergDubai Grinds to Standstill as Flooding Hits CityElon Wants His Money BackRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingSingapore Loses ‘World’s Best Airport’ Crown to QatarRed Lobster Considers Bankruptcy to De
Bloomberg•7h ago
Jamie Dimon Knew Subprime 'Could Go Up In Smoke'; Now He's Worried About An Artificial Economy 'Fueled by Government Deficit Spending'
In the chaos of the 2008 recession, perhaps no bank stood more prepared than Jamie Dimon's J.P Morgan Chase & Co. (NYSE:JPM). In advance of the crisis, Jamie Dimon realized that "underwriting standards were deteriorating across the industry," with late payments on subprime loans rising. In late 2006, the bank led his firm to exit Wall Street's hot subprime business, starting with a frantic call made to J.P. Morgan's vacationing Chief of Securitized Products where he said, "I really want you to w
Benzinga•5h ago
Lithium Americas Plunges After Shares Sold at Steep Discount
(Bloomberg) -- Lithium Americas Corp.’s stock plunged the most on record after agreeing to sell 55 million shares at a deep discount.Most Read from BloombergDubai Grinds to Standstill as Flooding Hits CityElon Wants His Money BackSingapore Loses ‘World’s Best Airport’ Crown to QatarRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsShares of the lithium explorer fell as much as 27% to $4.82 as of 9:31 a.m. in New Y
Bloomberg•7h ago
4 Members of Congress Generated Triple-Digit Returns in the Stock Market Last Year: These Are the 3 Stocks They Bought
These members of Congress delivered greater returns than Warren Buffett in 2023.
Motley Fool•10h ago
The Fed’s probably going to hold rates steady for longer than expected. But even when that awaited rate cut comes, it may not be all that cathartic
Federal Reserve Chair Jerome Powell earlier this week said that inflation’s proving sticky and that “recent data have clearly not given us greater confidence.”
Fortune•8h ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Analyst Likes Amazon, Logitech, Turtle Beach After Fortnite World Cup

Recommended Stories

Trump Media stock jumps for second day as company goes to battle with short sellers

Billionaire Warren Buffett Recently Cut This Stock From Berkshire Hathaway's Portfolio. It Just Dropped 53% In 1 Day. Here's What Investors Need to Know.

Kinder Morgan (KMI) Beats on Q1 Earnings, Hikes Dividend

DJT Stock Jumps. The Truth Social Owner Is Showing Stockholders How to Block Short Sellers.

The Most Active Stock Trader in Congress Is Buying Shares of This Magnificent Stock-Split Stock

Google Fires 28 Workers Protesting $1.2 Billion Israeli Contract

Jamie Dimon Knew Subprime 'Could Go Up In Smoke'; Now He's Worried About An Artificial Economy 'Fueled by Government Deficit Spending'

Lithium Americas Plunges After Shares Sold at Steep Discount

4 Members of Congress Generated Triple-Digit Returns in the Stock Market Last Year: These Are the 3 Stocks They Bought

The Fed’s probably going to hold rates steady for longer than expected. But even when that awaited rate cut comes, it may not be all that cathartic