Corsair Gaming (NASDAQ:CRSR) Releases Quarterly Earnings Results, Hits Expectations

Corsair Gaming (NASDAQ:CRSR) posted its earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16, Zacks reports. Corsair Gaming had a negative return on equity of 4.58% and a negative net margin of 7.14%.

Corsair Gaming Stock Down 0.1 %

NASDAQ:CRSR traded down $0.01 during trading hours on Wednesday, hitting $9.94. The company’s stock had a trading volume of 1,532,886 shares, compared to its average volume of 989,912. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $14.13. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.04 billion, a P/E ratio of -11.04 and a beta of 1.68. The stock has a fifty day moving average of $7.91 and a 200-day moving average of $7.16.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Barclays reduced their target price on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Macquarie dropped their price target on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group reduced 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, November 7th. Finally, Wedbush reissued an “outperform” rating and set a $12.00 target price (up from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and an average target price of $9.29.

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.