Corsair Gaming (NASDAQ:CRSR) Announces Earnings Results, Misses Expectations By $0.12 EPS

Corsair Gaming (NASDAQ:CRSR) posted its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12), Briefing.com reports. The firm 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%. The business’s revenue was down 19.7% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. Corsair Gaming updated its FY 2024 guidance to EPS.

Corsair Gaming Trading Down 18.8 %

NASDAQ:CRSR traded down $1.48 during trading hours 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. The firm has a market capitalization of $666.04 million, a price-to-earnings ratio of -80.13 and a beta of 1.60. The firm has a 50-day simple moving average of $10.27 and a 200-day simple moving average of $11.54. 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRSR. Barclays decreased their target price on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday. Wedbush decreased their price target on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday. Stifel Nicolaus decreased their price target 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. Robert W. Baird decreased their price target on shares of Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, The Goldman Sachs Group decreased their price target on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Corsair Gaming presently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

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.