Brokerages Anticipate Corsair Gaming, Inc. (NASDAQ:CRSR) Will Post Quarterly Sales of $465.72 Million

Equities analysts expect that Corsair Gaming, Inc. (NASDAQ:CRSR) will report $465.72 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Corsair Gaming’s earnings, with estimates ranging from $406.16 million to $532.10 million. The business is scheduled to issue its next earnings results before the market opens on Tuesday, August 3rd.

According to Zacks, analysts expect that Corsair Gaming will report full-year sales of $2.02 billion for the current fiscal year, with estimates ranging from $1.88 billion to $2.15 billion. For the next financial year, analysts expect that the firm will report sales of $2.14 billion, with estimates ranging from $2.04 billion to $2.25 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Corsair Gaming.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Tuesday, May 4th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.25. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $453.27 million. During the same period in the prior year, the firm earned $0.13 EPS. Corsair Gaming’s revenue for the quarter was up 201.0% on a year-over-year basis.

A number of research analysts recently weighed in on the company. Zacks Investment Research cut Corsair Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, July 7th. Barclays reduced their target price on Corsair Gaming from $51.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, May 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $43.90.

In related news, CFO Michael G. Potter sold 7,500 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $32.85, for a total value of $246,375.00. Following the completion of the sale, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at $246,375. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew J. Paul sold 63,533 shares of the business’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $35.00, for a total value of $2,223,655.00. Following the completion of the sale, the chief executive officer now directly owns 2,994,274 shares of the company’s stock, valued at $104,799,590. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,548,411 shares of company stock valued at $290,440,790. 71.70% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Exane Derivatives acquired a new position in shares of Corsair Gaming during the first quarter worth approximately $26,000. Panagora Asset Management Inc. acquired a new stake in Corsair Gaming in the first quarter worth approximately $33,000. Rockefeller Capital Management L.P. lifted its position in Corsair Gaming by 126.7% in the first quarter. Rockefeller Capital Management L.P. now owns 1,682 shares of the company’s stock worth $55,000 after purchasing an additional 940 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Corsair Gaming in the first quarter worth approximately $66,000. Finally, Amundi Asset Management US Inc. acquired a new stake in Corsair Gaming in the first quarter worth approximately $67,000. 10.39% of the stock is owned by institutional investors.

Corsair Gaming stock traded down $0.55 during midday trading on Friday, reaching $29.66. The stock had a trading volume of 45,108 shares, compared to its average volume of 1,670,933. Corsair Gaming has a twelve month low of $14.09 and a twelve month high of $51.37. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $32.01.

About Corsair Gaming

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.

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