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

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

Corsair Gaming Price Performance

Shares of Corsair Gaming stock traded down $1.48 during midday trading on Friday, hitting $6.41. 1,330,409 shares of the company traded hands, compared to its average volume of 623,110. The stock has a market cap of $666.04 million, a price-to-earnings ratio of -80.13 and a beta of 1.60. 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’s fifty day moving average price is $10.27 and its 200-day moving average price is $11.54. Corsair Gaming has a 12 month low of $6.38 and a 12 month high of $18.45.

Analysts Set New Price Targets

CRSR has been the subject of several research analyst reports. Wedbush reduced their target price on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Friday. Barclays reduced their target price on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday. Robert W. Baird reduced their target price on shares of Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Stifel Nicolaus reduced their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, The Goldman Sachs Group reduced their target price on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday. 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, the stock has an average rating of “Moderate Buy” and a consensus price target 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.