Corsair Gaming, Inc. (CRSR) closed the most recent trading day at $33.06, moving -0.9% from the previous trading session. This change lagged the S&P 500's daily loss of 0.04%.
Prior to today's trading, shares of the company had gained 4.61% over the past month. This has outpaced the Consumer Discretionary sector's loss of 0.21% and the S&P 500's gain of 1.35% in that time.
Wall Street will be looking for positivity from CRSR as it approaches its next earnings report date.
CRSR's full-year Zacks Consensus Estimates are calling for earnings of $1.81 per share and revenue of $2.02 billion. These results would represent year-over-year changes of +13.13% and +18.58%, respectively.
Investors might also notice recent changes to analyst estimates for CRSR. Recent revisions tend to reflect the latest near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CRSR currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that CRSR has a Forward P/E ratio of 18.4 right now. Its industry sports an average Forward P/E of 25.67, so we one might conclude that CRSR is trading at a discount comparatively.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CRSR in the coming trading sessions, be sure to utilize Zacks.com.
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