Corsair Gaming, Inc. (NASDAQ:CRSR) Receives Average Recommendation of “Hold” from Analysts

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have received a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.7143.

Several analysts have issued reports on CRSR shares. B. Riley Financial upped their price target on shares of Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Zacks Research cut shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Barclays reduced their target price on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, Robert W. Baird set a $6.00 price target on Corsair Gaming in a research report on Friday, February 13th.

Corsair Gaming Trading Down 3.9%

NASDAQ:CRSR opened at $5.20 on Friday. Corsair Gaming has a 52-week low of $4.48 and a 52-week high of $10.41. 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 fifty day simple moving average of $5.50 and a 200-day simple moving average of $6.63. The company has a market capitalization of $554.63 million, a PE ratio of -40.00 and a beta of 1.53.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.43 EPS 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 firm had revenue of $436.86 million for the quarter, compared to analysts’ expectations of $422.66 million. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Corsair Gaming

A number of large investors have recently made changes to their positions in CRSR. Virtu Financial LLC purchased a new stake in Corsair Gaming during the 4th quarter worth about $99,000. Invesco Ltd. raised its stake in Corsair Gaming by 144.4% in the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock valued at $7,904,000 after purchasing an additional 786,049 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Corsair Gaming in the 4th quarter valued at about $62,000. Millennium Management LLC lifted its holdings in Corsair Gaming by 506.2% in the 4th quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock valued at $3,777,000 after purchasing an additional 530,914 shares in the last quarter. Finally, Investor AB acquired a new stake in shares of Corsair Gaming during the 4th quarter worth about $741,000. 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.