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How Corsair Is Leading The New Age Of Gaming

May 17, 2021 11:30 am
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How Corsair Is Leading The New Age Of Gaming

Mitch Hoch talked about why he continues to like Corsair Gaming Inc (NASDAQ:CRSR) Monday on Benzinga's YouTube show "Money Mitch."

Corsair Gaming is focused on creating gear for gamers, but also on creating technology for content creation, Hoch said, adding that the content creation focus was an important step for the company. There are 2.8 billion gamers in the world, which implies a large total addressable market for the company, Hoch said. 26.5 million people watch livestreams on Twitch alone, he said. 

Hoch said he became a fan of the company when he learned about its streaming gear. The company offers an Elgato Stream Deck product that is the best available, according to Hoch.

Corsair Gaming has 26 product categories consisting of multiple best-in-class brands. 

CRSR Earnings: Corsair Gaming reported first-quarter financial results on May 4. The company reported earnings of 58 cents per share, which beat the estimate of 33 cents per share. It reported quarterly revenue of $529.41 million, which beat the estimate of $449.7 million.

CEO Andy Paul and CFO Michael Potter will present at the Cowen Technology, Media and Telecom Virtual Conference on June 1 and the Stifel Virtual Cross Sector Insight Conference on June 9.

These conferences could be catalysts for the stock, Hoch said. 

Related Link: Corsair Gaming's Stock Is Getting Ready For A Big Move, But Which Way?

CRSR Price Action: Corsair Gaming has traded as high as $51.37 and as low as $14.09 over a 52-week period. At last check Monday, the stock was up 0.68% at $31.78.

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