Published on 25 Oct 2023 on Zacks via Yahoo Finance
Strength Seen in Corsair Gaming, Inc. (CRSR): Can Its 5.7% Jump Turn into More Strength?
Corsair Gaming, Inc. (CRSR) shares rallied 5.7% in the last trading session to close at $13.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.5% loss over the past four weeks.
Corsair’s rally is driven mainly by optimism regarding the company’s pent-up consumer demand, new game titles and healthy inventory positions. Also, the emphasis on lower-cost GPU cards and Drop acquisition bodes well.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +87.5%. Revenues are expected to be $350.02 million, up 12.3% from the year-ago quarter.