Corsair Gaming (NASDAQ:CRSR) Rating Increased to Strong-Buy at Wall Street Zen

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

CRSR has been the subject of several other reports. Barclays increased their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Craig Hallum reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Corsair Gaming in a report on Monday, June 1st. Wedbush boosted their target price on Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Zacks Research downgraded Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of “Hold” and an average price target of $8.33.

Corsair Gaming Stock Performance

Shares of CRSR opened at $8.95 on Friday. The stock has a market capitalization of $956.58 million, a P/E ratio of 111.89 and a beta of 1.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $13.10. The company’s fifty day moving average is $7.84 and its two-hundred day moving average is $6.47.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.11 EPS. On average, sell-side analysts predict that Corsair Gaming will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Corsair Gaming by 4.0% in the third quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock valued at $61,697,000 after purchasing an additional 269,193 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after buying an additional 401,171 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in Corsair Gaming by 128.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after buying an additional 352,000 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in Corsair Gaming during the fourth quarter worth about $1,158,000. Finally, Investor AB purchased a new position in Corsair Gaming in the fourth quarter valued at about $741,000. 25.66% of the stock is owned by institutional investors and hedge funds.

About Corsair Gaming

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.