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Turtle Beach (HEAR) Renews Alliance With Esports Organization

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Turtle Beach Corporation HEAR recently renewed its collaboration with Team WaR, a professional gaming organization. The company will continue supporting Team WaR with its much-acclaimed accessories — Elite Pro 2 gaming headsets and the recently launched Recon 500 multiplatform gaming headset — as part of a multi-year agreement.

Markedly, the extended partnership highlights the San Diego, CA-based audio technology company’s commitment to aid skilled strategists and young talented athletes with best-in-class comfort-driven gaming gear. At the same time, the deal aims at enhancing its brand strength among gaming enthusiasts on the back of a dynamic product portfolio.

Based in Burbank, CA, Team WaR is a well-known name in the domain of competitive eSports and gaming entertainment. The entity specializes in Call of Duty eSports and boasts a comprehensive suite of players and teams based across Asia, Europe and North America.

Prior to the transition of Team WaR into a fulltime eSports organization, it was a group that first competed as a professional Call of Duty team in 2017. After years of winning several championship trophies, the team solidified its presence as an eminent player in the entertainment industry.

Team WaR has been sharing a working relationship with Turtle Beach since August 2020. Interestingly, the company was Team WaR’s first gaming accessory partner. Notably, Turtle Beach had collaborated with several eSports organizations and entertainment streaming platforms to provide its technologically-driven wireless headsets and PC accessories.

In sync with this, the latest move is expected to not only reinforce Team WaR’s long-standing alliance with Turtle Beach but also enable the latter to boost its leadership position as a console gaming headset maker on a global scale with significant market share gains.

Notably, Turtle Beach is well positioned to benefit from a proper execution of operational strategies combined with robust product performance, supported by innovation, quality products, strong brand 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 bolster the demand for headsets amid the pandemic situation. Moreover, the company’s ability to significantly increase its production and delivery capacity is remarkable.

Driven by healthy business fundamentals, the Zacks Rank #3 (Hold) stock has catapulted 207% compared with the industry’s growth of 47.5% in the past year. It has a long-term earnings growth expectation of 16%.

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Some better-ranked stocks in the industry are Altice USA, Inc. ATUS, Corning Incorporated GLW and Ooma, Inc. OOMA. While Altice sports a Zacks Rank #1 (Strong Buy), Corning and Ooma carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.

Corning delivered a trailing four-quarter earnings surprise of 39%, on average.

Ooma delivered a trailing four-quarter earnings surprise of 65.5%, on average.

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