Corsair Gaming Inc. ($CRSR) Stock Forecast: Down 4.5% Today

What is Corsair Gaming Inc.?

Corsair Gaming, Inc. (CRSR) offers high-performance gear for gamers, such as gaming peripherals and components. The market sentiment today leaned towards the bearish side.

Why is Corsair Gaming Inc. going down?

CRSR stock is down 4.5% on Nov 7, 2024 16:46

• Corsair Gaming (CRSR) recorded a significant downward movement, possibly influenced by the prevailing bearish market sentiment and potential profit-taking following recent gains.
• The tech sector, including CRSR, may have been affected by the negative financial results disclosed by CommScope Holding Company (COMM) during the pre-market session.
• The lackluster performance of prominent stocks like Match Group and Krispy Kreme has fostered investor wariness, prompting a broader market sell-off and impacting CRSR unfavorably.

CRSR Price Chart

CRSR Technical Analysis

CRSR News

CommScope Holding Posts Downbeat Results, Joins Match Group, Krispy Kreme And Other Big Stocks Moving Lower In Thursday's Pre-Market Session - CommScope Hldg Co ( NASDAQ:COMM )

U.S. stock futures were higher this morning, with the Dow futures gaining around 100 points on Thursday. Shares of CommScope Holding Company, Inc. COMM fell sharply in today's pre-market trading after the company reported worse-than-expected third-quarter financial results.

https://www.benzinga.com/news/24/11/41806393/commscope-holding-posts-downbeat-results-joins-match-group-krispy-kreme-and-other-big-stocks-moving

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Corsair Gaming Inc. Price History

17.08.2024 - CRSR Stock was up 5.8%

• CRSR saw a positive movement after revealing the acquisition of the Fanatec Sim Racing brand, which is anticipated to improve its product range and market presence.
• Venturing into the sim racing market could create new revenue channels for CRSR and attract a wider customer demographic.
• This strategic decision positions CRSR well to take advantage of the growing popularity of sim racing and strengthen its position in the gaming sector.

07.10.2024 - CRSR Stock was down 4.5%

• Corsair Gaming (CRSR) recorded a significant downward movement, possibly influenced by the prevailing bearish market sentiment and potential profit-taking following recent gains.
• The tech sector, including CRSR, may have been affected by the negative financial results disclosed by CommScope Holding Company (COMM) during the pre-market session.
• The lackluster performance of prominent stocks like Match Group and Krispy Kreme has fostered investor wariness, prompting a broader market sell-off and impacting CRSR unfavorably.

14.01.2024 - CRSR Stock was down 5.4%

• Despite a positive financial performance for Q4 and the full year 2023, CRSR saw a decline of 7% in the market.
• The disappointing holiday earnings could have played a role in the bearish movement, as they fell short of expectations.
• There is a lack of information regarding the earnings call and presentation, leaving room for other factors or details that may have influenced investor sentiment.
• It's worth mentioning that other major stocks, such as MGM Resorts and Upstart Holdings, also saw a decrease in today's pre-market session, indicating a broader market trend.

14.01.2024 - CRSR Stock was up 7.3%

• Today's strong bullish movement in CRSR stock can be attributed to the following factors:
• 1. Positive earnings projection: Corsair Gaming projects significant growth in 2024, boosting investor confidence and leading to increased buying activity.
• 2. Q4 earnings and revenue miss: Despite this development, market focus on future expectations rather than past performance is key. Reduced promotional activities and improved inventory levels are seen as positive signs for the company's future prospects.
• 3. Market sentiment: Positive market conditions, indicated by higher Nasdaq futures, contributed to the bullish movement in CRSR stock. Optimism among investors often leads to increased buying activity in various sectors, including gaming technology.
• In summary, the strong bullish movement of CRSR stock today can be attributed to positive earnings projections for future growth and overall market sentiment, despite the Q4 earnings and revenue miss.

08.04.2024 - CRSR Stock was down 12.0%

• Corsair Gaming (CRSR) reported disappointing earnings for Q1 2024, with both EPS and revenue missing analyst estimates.
• The lower-than-expected financial performance likely contributed to the bearish movement in CRSR stock.
• Investors may have reacted negatively to the earnings miss, leading to a sell-off of the stock.
• The overall sentiment towards tech stocks being beaten down might have also influenced the market movement, as investors seek better opportunities elsewhere in the sector.

14.01.2024 - CRSR Stock was down 5.4%

• The recent bearish movement in CRSR's stock could be attributed to the following factors:
• 1. Disappointing earnings: Corsair Gaming reported earnings that fell short of expectations, with a lower-than-anticipated EPS. This may have impacted investor sentiment and resulted in the decline of the stock.
• 2. Market expectations: Given the strong growth and margin improvement reported in previous quarters, investors might have had high expectations for Corsair Gaming's earnings. The miss on both the top and bottom lines could have triggered a sell-off of the stock.
• 3. Competitive landscape: The gaming industry is fiercely competitive, with various companies striving to gain market share. Any negative news or perceived weaknesses in Corsair Gaming's performance could have influenced investors to divert their attention to other gaming companies, consequently leading to a decline in CRSR's stock price.
• 4. Overall market conditions: Alongside company-specific factors, it's crucial to consider broader market conditions when interpreting the movement of a stock. A general downturn in the market or concerns about the economy could have also contributed to the bearish movement in CRSR's stock.

05.03.2024 - CRSR Stock was down 5.1%

• The bearish movement in CRSR stock today could be attributed to an in-depth competitor analysis focusing on Super Micro Computer and its peers in the technology hardware sector.
• Investors may have reacted to a detailed comparison of financial metrics, market positioning, and growth prospects of Super Micro Computer, potentially leading to a shift in sentiment towards other companies in the industry.
• The emphasis on Super Micro Computer's high-performance server technology services and modular architectural approach may have raised concerns about Corsair Gaming's competitive edge and market positioning, prompting selling pressure on CRSR stock.
• The market's reaction to the competitor analysis highlights the importance of industry comparisons and the impact they can have on individual stock movements, as investors reassess their investment decisions based on new insights and industry dynamics.

14.01.2024 - CRSR Stock was up 6.0%

• The bullish movement in CRSR today can be attributed to the following factors:
• 1. Strong Q4 Earnings: Corsair Gaming reported strong earnings growth and margin improvement for Q4 2023. This positive financial performance likely boosted investor confidence and contributed to the bullish movement.
• 2. Increased Demand for New Products: Corsair Gaming's fourth-quarter results were driven by strong demand for its new products. This indicates that the company's innovation and product development efforts are paying off, attracting more customers and potentially leading to higher sales and profits.
• 3. Reduced Promotional Activities and Improved Inventory Levels: Corsair Gaming's Q4 results were also positively impacted by reduced promotional activities and improved inventory levels. This suggests that the company has effectively managed its supply chain and marketing strategies, resulting in better profitability and overall performance.
• 4. Lack of Information from Earnings Call Transcripts: The absence of available information from Corsair Gaming's Q4 earnings call transcripts makes it difficult to determine if any specific announcements or factors influenced the bullish movement. However, the strong earnings growth and margin improvement reported in the previous statement likely overshadowed any potentially negative information from the earnings call.
• Overall, the bullish movement in CRSR today can be attributed to the company's strong financial performance, increased demand for new products, and effective management of promotional activities and inventory levels. The positive outlook for the gaming industry as a whole may have also contributed to the market's optimism towards Corsair Gaming.

19.06.2024 - CRSR Stock was down 13.4%

• Corsair Gaming (CRSR) saw a decline in stock value today due to lower-than-expected preliminary second-quarter revenue results.
• Revenue for the quarter was $261 million, falling short of the estimated $319.977 million, leading to a negative market response.
• Anticipation for new GPUs affected the market for high-end self-built gaming PCs, resulting in decreased demand for Corsair's products and impacting financial performance.
• The underwhelming results underscore the significance of innovation and market timing in the competitive gaming industry, where consumer preferences and technological advancements drive sales and stock performance.

19.06.2024 - CRSR Stock was down 18.8%

• Corsair Gaming announced lower-than-expected second-quarter revenue, coming in at $261 million compared to estimates of $319.977 million. This miss in revenue likely disappointed investors and led to a bearish movement in the stock.
• The softer market for high-end self-built gaming PCs, with consumers waiting for new GPUs to be launched, could have impacted Corsair's sales negatively. This hesitation in purchasing behavior might have contributed to the company's lower revenue.
• The upcoming launch of new GPUs might have caused consumers to hold out on purchasing Corsair's products, anticipating better performance and features in the new graphics cards. This delay in buying decisions could have further affected Corsair's financial results and stock performance.

06.07.2024 - CRSR Stock was up 8.2%

• Corsair Gaming reported a net revenue drop to $261.3 million, but its stock experienced a bullish movement.
• Investors seemed to look beyond the revenue figures, focusing on other positive aspects of the company's performance.
• Optimism regarding the company's future growth prospects or potential product releases may have contributed to the stock's bullish trend.
• Market sentiment and industry trends likely influenced the stock price increase despite the earnings miss.

02.07.2024 - CRSR Stock was down 16.0%

• After its Q2 2024 earnings report, Corsair Gaming (CRSR) saw significant bearish movement.
• Earnings per share of -7 cents were reported, below the anticipated 9 cents, with revenue at $261.30 million, missing the expected $319.98 million.
• The disappointing financial results may have caused a decline in investor confidence, leading to a selling spree of CRSR stock.
• Concerns over Corsair Gaming's future financial performance and its ability to compete in the gaming technology market could be weighing on investors' minds.