Corsair Gaming (NASDAQ:CRSR) Raised to Buy at Wall Street Zen

Corsair Gaming (NASDAQ:CRSRGet Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued reports about the stock. Barclays cut their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Corsair Gaming in a research note on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price target on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

View Our Latest Stock Analysis on Corsair Gaming

Corsair Gaming Price Performance

Shares of NASDAQ:CRSR opened at $9.53 on Friday. Corsair Gaming has a 12 month low of $5.60 and a 12 month high of $13.02. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -10.25 and a beta of 1.77. The stock’s 50 day moving average price is $8.39 and its 200 day moving average price is $8.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.85.

Corsair Gaming (NASDAQ:CRSRGet Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $369.75 million for the quarter, compared to the consensus estimate of $366.20 million. Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. Corsair Gaming’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Equities research analysts anticipate that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

A number of hedge funds have recently bought and sold shares of CRSR. Principal Financial Group Inc. boosted its holdings in Corsair Gaming by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 218,742 shares of the company’s stock valued at $1,446,000 after acquiring an additional 7,351 shares during the period. New York State Common Retirement Fund boosted its holdings in Corsair Gaming by 40.4% during the fourth quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after acquiring an additional 212,792 shares during the period. Proficio Capital Partners LLC bought a new stake in Corsair Gaming during the fourth quarter valued at about $90,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Corsair Gaming by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,801 shares of the company’s stock valued at $2,629,000 after buying an additional 15,067 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock valued at $33,000 after buying an additional 3,414 shares during the period. 25.66% of the stock is currently owned by institutional investors.

Corsair Gaming Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Corsair Gaming (NASDAQ:CRSR)

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