Corsair Gaming (NASDAQ:CRSR) Issues Earnings Results

Corsair Gaming (NASDAQ:CRSR) released its quarterly earnings results on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, reports. The firm had revenue of $304.20 million for the quarter, compared to the consensus estimate of $305.03 million. Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. Corsair Gaming updated its FY 2024 guidance to EPS.

Corsair Gaming Price Performance

Shares of NASDAQ:CRSR opened at $6.85 on Friday. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a market cap of $713.43 million, a PE ratio of -18.59 and a beta of 1.59. The stock’s fifty day simple moving average is $6.60 and its two-hundred day simple moving average is $8.67. Corsair Gaming has a 1-year low of $5.59 and a 1-year high of $15.07.

Institutional Trading of Corsair Gaming

Several institutional investors and hedge funds have recently made changes to their positions in CRSR. Quest Partners LLC purchased a new position in Corsair Gaming in the third quarter worth $462,000. Creative Planning boosted its holdings in shares of Corsair Gaming by 579.2% in the 3rd quarter. Creative Planning now owns 82,182 shares of the company’s stock worth $572,000 after buying an additional 70,083 shares during the last quarter. GAMMA Investing LLC grew its position in Corsair Gaming by 995.8% during the third quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock valued at $33,000 after buying an additional 4,312 shares during the period. SG Americas Securities LLC purchased a new stake in Corsair Gaming during the third quarter worth about $101,000. Finally, Algert Global LLC raised its position in Corsair Gaming by 10.6% in the second quarter. Algert Global LLC now owns 128,279 shares of the company’s stock worth $1,416,000 after acquiring an additional 12,297 shares during the period. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Corsair Gaming in a research report on Tuesday. Stifel Nicolaus decreased their price target on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays dropped their price objective on Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group decreased their target price on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Robert W. Baird decreased their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corsair Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $9.17.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.