Corsair Gaming, Inc. (CRSR) Gains As Market Dips: What You Should Know
Corsair Gaming, Inc. (CRSR) closed at $29.30 in the latest trading session, marking a +0.58% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day.
Coming into today, shares of the company had lost 12.42% in the past month. In that same time, the Consumer Discretionary sector lost 5.03%, while the S&P 500 gained 2.91%.
CRSR will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2021.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.81 per share and revenue of $2.02 billion. These totals would mark changes of +13.13% and +18.58%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CRSR. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. CRSR currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CRSR has a Forward P/E ratio of 16.06 right now. This valuation marks a discount compared to its industry's average Forward P/E of 25.12.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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