Corsair Gaming (NASDAQ:CRSR) Announces Earnings Results

Corsair Gaming (NASDAQ:CRSR) issued its 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 during the quarter, compared to the consensus estimate of $305.03 million. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. Corsair Gaming updated its FY 2024 guidance to EPS.

Corsair Gaming Trading Down 3.8 %

Shares of CRSR stock opened at $6.85 on Friday. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $15.07. The business’s fifty day moving average is $6.60 and its 200 day moving average is $8.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.80. The company has a market capitalization of $713.43 million, a PE ratio of -18.59 and a beta of 1.59.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRSR. The Goldman Sachs Group lowered their price objective on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays dropped their price target on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday. Robert W. Baird cut their price objective on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Stifel Nicolaus lowered their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, TD Cowen cut their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.17.

Institutional Trading of Corsair Gaming

Institutional investors and hedge funds have recently modified their holdings of the business. Capstone Investment Advisors LLC increased its position in shares of Corsair Gaming by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock worth $336,000 after purchasing an additional 2,250 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Corsair Gaming in the 1st quarter worth approximately $1,318,000. Vanguard Group Inc. increased its holdings in shares of Corsair Gaming by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after buying an additional 64,373 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Corsair Gaming by 286.4% during the 1st quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock valued at $210,000 after buying an additional 12,631 shares in the last quarter. Finally, PEAK6 Investments LLC lifted its holdings in shares of Corsair Gaming by 144.3% during the 1st quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock worth $164,000 after acquiring an additional 43,393 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.

About Corsair Gaming

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.