Corsair Gaming, Inc. (NASDAQ:CRSR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.00.

A number of research analysts have recently issued reports on CRSR shares. The Goldman Sachs Group cut their target price on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Barclays cut their price objective on Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Corsair Gaming in a report on Monday, May 5th. Wall Street Zen lowered Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird set a $10.00 price target on Corsair Gaming in a report on Wednesday, May 7th.

Corsair Gaming Stock Up 1.2%

Shares of NASDAQ CRSR opened at $9.21 on Friday. The stock has a market cap of $974.60 million, a PE ratio of -9.90 and a beta of 1.77. The business has a fifty day moving average of $8.01 and a two-hundred day moving average of $8.60. Corsair Gaming has a 52-week low of $5.60 and a 52-week high of $13.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.52.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $369.75 million for the quarter, compared to analyst estimates of $366.20 million. Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. As a group, equities research analysts expect that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently made changes to their positions in CRSR. Vontobel Holding Ltd. lifted its stake in shares of Corsair Gaming by 133.0% during the fourth quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock valued at $463,000 after acquiring an additional 40,015 shares during the period. Principal Financial Group Inc. lifted its position in Corsair Gaming by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 218,742 shares of the company’s stock valued at $1,446,000 after purchasing an additional 7,351 shares during the period. New York State Common Retirement Fund lifted its position in Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after purchasing an additional 212,792 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Corsair Gaming in the 4th quarter valued at about $90,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Corsair Gaming by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,801 shares of the company’s stock worth $2,629,000 after buying an additional 15,067 shares during the period. 25.66% of the stock is owned by institutional investors and hedge funds.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.