Corsair Gaming (NASDAQ:CRSR) Announces Earnings Results

Corsair Gaming (NASDAQ:CRSR) announced its earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, meeting 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 Price Performance

Shares of NASDAQ CRSR traded down $0.01 during trading hours on Wednesday, reaching $9.94. 1,220,201 shares of the stock traded hands, compared to its average volume of 989,912. The company’s 50-day simple moving average is $7.91 and its two-hundred day simple moving average is $7.16. The company has a market capitalization of $1.04 billion, a P/E ratio of -11.05 and a beta of 1.68. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $14.13. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRSR. The Goldman Sachs Group reduced their price objective on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Barclays lowered their target price 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, November 7th. Macquarie reduced 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 report on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $12.00 price objective (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Finally, TD Cowen reduced their target price on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Corsair Gaming 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.