Corsair Gaming (CRSR) to Release Earnings on Wednesday

Corsair Gaming (NASDAQ:CRSR – Get Rating) will announce its earnings results after the market closes on Wednesday, May 10th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Corsair Gaming has set its FY 2023 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Corsair Gaming (NASDAQ:CRSR – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $398.73 million during the quarter, compared to the consensus estimate of $376.54 million. Corsair Gaming had a positive return on equity of 0.04% and a negative net margin of 4.85%. On average, analysts expect Corsair Gaming to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Corsair Gaming Stock Up 3.5 %

Shares of Corsair Gaming stock opened at $17.84 on Monday. The stock has a 50-day moving average price of $17.25 and a 200 day moving average price of $16.08. The company has a market cap of $1.82 billion, a P/E ratio of -27.87 and a beta of 1.84. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.37. Corsair Gaming has a 1 year low of $10.96 and a 1 year high of $18.76.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CRSR shares. Wedbush downgraded Corsair Gaming from an “outperform” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Monday, February 6th. Barclays raised their price target on Corsair Gaming from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, February 10th. The Goldman Sachs Group began coverage on Corsair Gaming in a research note on Sunday, April 16th. They set a “neutral” rating and a $20.00 price target for the company. Finally, Robert W. Baird increased their price objective on Corsair Gaming from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.14.

Insider Buying and Selling at Corsair Gaming

In other news, COO Thi L. La sold 5,000 shares of Corsair Gaming stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $18.14, for a total transaction of $90,700.00. Following the sale, the chief operating officer now owns 231,840 shares of the company’s stock, valued at approximately $4,205,577.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 61.01% of the company’s stock.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently modified their holdings of CRSR. BlackRock Inc. raised its position in Corsair Gaming by 156.5% in the 1st quarter. BlackRock Inc. now owns 4,717,854 shares of the company’s stock valued at $99,829,000 after purchasing an additional 2,878,715 shares during the last quarter. Vanguard Group Inc. raised its position in Corsair Gaming by 21.1% in the 1st quarter. Vanguard Group Inc. now owns 3,977,924 shares of the company’s stock valued at $84,173,000 after purchasing an additional 692,493 shares during the last quarter. State Street Corp raised its position in Corsair Gaming by 98.2% in the 1st quarter. State Street Corp now owns 994,077 shares of the company’s stock valued at $21,035,000 after purchasing an additional 492,651 shares during the last quarter. Bank of New York Mellon Corp raised its position in Corsair Gaming by 224.2% in the 1st quarter. Bank of New York Mellon Corp now owns 540,458 shares of the company’s stock valued at $11,437,000 after purchasing an additional 373,738 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Corsair Gaming by 932.5% during the first quarter. Invesco Ltd. now owns 266,426 shares of the company’s stock worth $5,637,000 after acquiring an additional 240,622 shares during the last quarter. Institutional investors own 81.55% of the company’s stock.

About Corsair Gaming

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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 the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.