Corsair Gaming (NASDAQ:CRSR) Earns “Outperform” Rating from Wedbush

Corsair Gaming (NASDAQ:CRSR)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $7.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 25.67% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Macquarie Infrastructure reduced their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen raised Corsair Gaming from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. B. Riley Financial upped their target price on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Craig Hallum reaffirmed a “buy” rating and set a $8.00 price target on shares of Corsair Gaming in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.71.

Corsair Gaming Price Performance

CRSR stock opened at $5.57 on Tuesday. The business has a 50 day moving average price of $5.70 and a 200 day moving average price of $7.13. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.18. The stock has a market cap of $593.59 million, a price-to-earnings ratio of -42.85 and a beta of 1.55. Corsair Gaming has a fifty-two week low of $4.48 and a fifty-two week high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The company had revenue of $436.86 million for the quarter, compared to analysts’ expectations of $422.66 million. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts anticipate that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Corsair Gaming

In related news, CEO Thi L. La purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was purchased at an average cost of $6.10 per share, with a total value of $305,000.00. Following the completion of the acquisition, the chief executive officer directly owned 480,726 shares in the company, valued at $2,932,428.60. This trade represents a 11.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

Several hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in shares of Corsair Gaming during the 2nd quarter worth $560,000. Dynamic Technology Lab Private Ltd purchased a new position in Corsair Gaming during the 2nd quarter valued at about $460,000. Versor Investments LP increased its holdings in Corsair Gaming by 105.5% during the 2nd quarter. Versor Investments LP now owns 79,100 shares of the company’s stock valued at $746,000 after acquiring an additional 40,600 shares in the last quarter. AE Wealth Management LLC acquired a new position in Corsair Gaming during the second quarter worth about $98,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Corsair Gaming in the second quarter valued at about $509,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.