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Corsair Gaming, Inc. (CRSR) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2-min read

Corsair Gaming, Inc. (CRSR) closed the most recent trading day at $22.38, moving +0.77% from the previous trading session. This change outpaced the S&P 500's 0.62% gain on the day. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.

Coming into today, shares of the company had lost 5.13% in the past month. In that same time, the Consumer Discretionary sector lost 4.81%, while the S&P 500 gained 0.39%.

Investors will be hoping for strength from Corsair Gaming, Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.30, down 43.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $488.47 million, down 12.2% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.38 per share and revenue of $1.88 billion, which would represent changes of -13.75% and +10.55%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for Corsair Gaming, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Corsair Gaming, Inc. currently has a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Corsair Gaming, Inc. is holding a Forward P/E ratio of 16.09. This represents a discount compared to its industry's average Forward P/E of 18.44.

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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