Corsair Gaming (NASDAQ:CRSR) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Corsair Gaming (NASDAQ:CRSR) posted its earnings results on Tuesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02), Briefing.com reports. The business had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $354.04 million. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company earned ($0.29) EPS. Corsair Gaming updated its FY 2025 guidance to EPS.

Corsair Gaming Stock Performance

Shares of CRSR traded down $0.97 during mid-day trading on Wednesday, hitting $6.55. 1,221,942 shares of the company’s stock were exchanged, compared to its average volume of 844,467. Corsair Gaming has a fifty-two week low of $5.64 and a fifty-two week high of $13.02. The firm has a market capitalization of $694.77 million, a P/E ratio of -8.12 and a beta of 1.84. The business’s 50 day moving average is $8.41 and its two-hundred day moving average is $8.63. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CRSR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Corsair Gaming in a report on Wednesday, October 8th. B. Riley dropped their target price on Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush dropped their target price on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays upgraded shares of Corsair Gaming to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Craig Hallum set a $10.00 price objective on shares of Corsair Gaming in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of “Hold” and an average price target of $9.25.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently made changes to their positions in the business. Caxton Associates LLP acquired a new stake in shares of Corsair Gaming during the second quarter worth about $133,000. Public Sector Pension Investment Board boosted its stake in shares of Corsair Gaming by 8.6% during the second quarter. Public Sector Pension Investment Board now owns 155,123 shares of the company’s stock worth $1,463,000 after buying an additional 12,338 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Corsair Gaming during the second quarter worth about $97,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after buying an additional 1,551 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.