Corsair Gaming (NASDAQ: CRSR – Get Rating) released quarterly earnings data Thursday. The company posted EPS $ 0.09 for the quarter, missing the consensus estimate of $ 0.30 per ($ 0.21), MarketWatch earnings reports. Corsair Gaming had a net margin of 5.30% and a return on equity of 24.94%. The company reported revenue of $ 380.69 million during the quarter, compared with analysts’ estimates of $ 390.60 million. In the same period last year, the company posted earnings per share of $ 0.56. Company revenue for the quarter decreased 28.1% year-on-year.
Corsair Gaming stock is trading higher by $ 0.11 during trading on Friday, reaching $ 15.65. 1,867,630 shares of the company were traded, against an average volume of 780,293. Corsair Gaming has a 52-week low of $ 14.12 and a 52-week high of $ 42.97. The company has a market capitalization of $ 1.49 billion, a P / E ratio of 31.30 and a beta of 1.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.58, and a quick ratio of 0.91. The stock’s 50-day simple moving average is $ 19.64 and its two-hundred-day simple moving average is $ 21.34.
Several institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG increased its position in Corsair Gaming by 7.0% during the fourth quarter. Deutsche Bank AG now owns 17,663 shares in the company worth $ 371,000 after buying another 1,154 shares in the last quarter. California State Teachers Retirement System increased its stake in Corsair Gaming by 3.9% during the fourth quarter. The California State Teacher Pension System now owns 38,737 shares in the company worth $ 814,000 after acquiring an additional 1,439 shares in the last quarter. Manufacturers Life Insurance Company increased its stake in Corsair Gaming by 12.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 15,038 shares in the company worth $ 316,000 after acquiring another 1,642 shares in the last quarter. Rhumbline Advisers increased its stake in Corsair Gaming by 9.0% during the fourth quarter. Rhumbline Advisers now owns 28,307 shares of the company worth $ 595,000 after acquiring another 2,330 shares during the last quarter. Finally, Credit Suisse AG increased its stake in Corsair Gaming by 9.2% in the fourth quarter. Credit Suisse AG now owns 33,801 shares in the company worth $ 710,000 after acquiring an additional 2,844 shares in the last quarter. Hedge funds and other institutional investors own 14.77% of the company’s shares.
Several equity analysts have recently weighed in on CRSR shares. DA Davidson reduced Corsair Gaming’s target price from $ 36.00 to $ 30.00 in a research report on Friday, April 22. Wedbush reiterated an “outperforming” rating and issued a target price of $ 22.00 on Corsair Gaming shares in a research report on Friday. Stifel Nicolaus reduced Corsair Gaming’s target price from $ 29.00 to $ 24.00 in a research report on Friday, April 22. Credit Suisse Group reduced Corsair Gaming’s target price from $ 26.00 to $ 25.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 9. Finally, Macquarie lowered Corsair Gaming’s target price from $ 33.00 to $ 27.00 and established an “outperform” rating on the stock in a research report on Wednesday, February 9. One research analyst rated the stock with a sell rating, three assigned a hold rating, and four assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $ 26.67.
Corsair Gaming Company Profile (Get evaluation)
Corsair Gaming, Inc, together with its subsidiaries, designs, markets and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East and Asia Pacific. The company offers peripherals for gamers and creators, including gaming keyboards, mice, headphones and controllers, as well as capture cards, stream decks, USB microphones, studio accessories and EpocCam software.
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