Corsair Gaming (NASDAQ:CRSR) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Corsair Gaming (NASDAQ:CRSR) posted its earnings results on Thursday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12), Briefing.com reports. The company had revenue of $261.30 million for the quarter, compared to the consensus estimate of $290.30 million. Corsair Gaming had a positive return on equity of 2.15% and a negative net margin of 2.83%. Corsair Gaming’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS. Corsair Gaming updated its FY 2024 guidance to EPS.

Corsair Gaming Trading Down 18.8 %

NASDAQ:CRSR traded down $1.48 on Friday, reaching $6.41. The company’s stock had a trading volume of 1,330,409 shares, compared to its average volume of 623,110. Corsair Gaming has a 1-year low of $6.38 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82. The firm has a market cap of $666.04 million, a PE ratio of -80.13 and a beta of 1.60. The business’s 50-day moving average price is $10.27 and its two-hundred day moving average price is $11.54.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRSR. Wedbush cut their target price on Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group cut their price objective on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday. Barclays cut their price objective on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday. Robert W. Baird decreased their price objective on Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Stifel Nicolaus decreased their price objective on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.83.

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.