$ 492.45 million in expected sales for Corsair Gaming, Inc. (NASDAQ: CRSR) this quarter
Analysts expect Corsair Gaming, Inc. (NASDAQ: CRSR) to post revenue of $ 492.45 million for the current quarter, Zacks investment research reports. Two analysts have released earnings estimates for Corsair Gaming, with the lowest sales estimate at $ 480.50 million and the highest estimate at $ 504.40 million. Corsair Gaming reported sales of $ 457.10 million in the same quarter last year, suggesting a positive growth rate of 7.7% year-over-year. The company is expected to release its next quarterly results on Tuesday, November 9.
According to Zacks, analysts expect Corsair Gaming to report annual revenue of $ 2.08 billion for the current year, with estimates ranging from $ 2.06 billion to $ 2.10 billion. of dollars. For next year, analysts predict the company will report sales of $ 2.22 billion, with estimates ranging from $ 2.20 billion to $ 2.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research companies that cover Corsair Gaming.
Corsair Gaming (NASDAQ: CRSR) last released its quarterly results on Tuesday, August 3. The company reported earnings per share (EPS) of $ 0.36 for the quarter, missing the consensus estimate of $ 0.39 of ($ 0.03). Corsair Gaming has a net margin of 7.63% and a return on equity of 40.73%. The company posted revenue of $ 472.90 million for the quarter, compared to analysts’ estimates of $ 475.16 million. In the same quarter of last year, the company posted earnings per share of $ 0.37. The company’s revenue for the quarter increased 24.3% from the same quarter last year.
Several research analysts recently commented on the company. Zacks investment research downgraded Corsair Gaming from a “hold” rating to a “strong sell” rating in a report released on Monday, August 9. Credit Suisse Group Downgraded Corsair Gaming Shares From “Outperforming” To “Neutral” Rating, Lowering Its Share Price Target From $ 43.00 To $ 31.00 In Research Note from Wednesday August 4. Barclays lowered its price target on Corsair Gaming shares from $ 47.00 to $ 42.00 and set an “overweight” rating for the company in a research report published on Wednesday, August 4. Wedbush reaffirmed a “buy” note and set a target price of $ 55.00 on Corsair Gaming shares in a research note on Thursday, July 29. Finally, Robert W. Baird lowered his price target on Corsair Gaming’s stock from $ 48.00 to $ 38.00 and set an “outperform” rating on the stock in a report released on Wednesday, August 4. One investment analyst gave the stock a sell rating, three assigned a conservation rating, and six assigned a buy rating to the company. Based on MarketBeat data, Corsair Gaming has an average rating of “Buy” and a consensus target price of $ 41.00.
Corsair Gaming stock opened at $ 29.31 on Monday. Corsair Gaming has a 52 week low of $ 14.09 and a 52 week high of $ 51.37. The company has a debt ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.48. The company has a market cap of $ 2.75 billion and a PE ratio of 18.55. The company’s 50-day simple moving average is $ 28.78 and its 200-day simple moving average is $ 31.53.
In other news, the CFO Michael G. Potter sold 7,500 shares of Corsair Gaming in a trade that took place on Thursday, July 1. The shares were sold at an average price of $ 32.98, for a total trade of $ 247,350.00. Following the closing of the transaction, the CFO now directly owns 7,500 shares of the company, valued at approximately $ 247,350. The transaction has been disclosed in a legal file with the SEC, which is available through the SEC website. Additionally, director George L. Jr. Majoros sold 432,989 shares of the company in a transaction that took place on Tuesday, June 15. The stock was sold at an average price of $ 36.09, for a total trade of $ 15,626,573.01. Disclosure of this sale can be found here. 71.70% of the shares are currently owned by insiders.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Panagora Asset Management Inc. acquired a new position in Corsair Gaming during the 1st quarter for a value of approximately $ 33,000. Russell Investments Group Ltd. purchased a new equity stake in Corsair Gaming in the second quarter valued at approximately $ 34,000. Advisory Services Network LLC acquired a new position in Corsair Gaming shares in the 2nd quarter valued at approximately $ 55,000. Rockefeller Capital Management LP strengthened its position in Corsair Gaming by 126.7% in the 1st quarter. Rockefeller Capital Management LP now owns 1,682 shares of the company valued at $ 55,000 after purchasing an additional 940 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in Corsair Gaming during the first quarter valued at approximately $ 66,000. 12.78% of the shares are currently held by institutional investors and hedge funds.
Corsair Gaming Company Profile
Corsair Gaming, Inc, along 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 keyboards, mice, headsets and game controllers, as well as capture cards, broadcast decks, USB microphones, studio accessories and software. EpocCam.
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