Corsair Gaming (NASDAQ:CRSR) Raised to “Strong-Buy” at Wall Street Zen

Corsair Gaming (NASDAQ:CRSR) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. B. Riley Financial boosted their price objective on Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Craig Hallum restated a “buy” rating and issued a $8.00 price objective on shares of Corsair Gaming in a research note on Friday, February 13th. Zacks Research upgraded Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Barclays cut their price target on shares of Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.71.

Corsair Gaming Price Performance

CRSR opened at $5.62 on Friday. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $13.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.84. The company has a market capitalization of $598.92 million, a price-to-earnings ratio of -43.23 and a beta of 1.55. The firm’s fifty day moving average price is $5.67 and its two-hundred day moving average price is $7.09.

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

Insider Activity at Corsair Gaming

In other news, CEO Thi L. La purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the purchase, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 58.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corsair Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in Corsair Gaming by 30.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after purchasing an additional 1,120 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of Corsair Gaming during the 2nd quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its holdings in Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the period. Kemnay Advisory Services Inc. purchased a new position in Corsair Gaming in the 4th quarter valued at approximately $37,000. Finally, BNP Paribas Financial Markets grew its stake in Corsair Gaming by 24.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after buying an additional 1,551 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors.

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.