Corsair Gaming, Inc. (NASDAQ:CRSR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.5714.

Several brokerages recently weighed in on CRSR. Roth Capital assumed coverage on Corsair Gaming in a research note on Wednesday. They set a “buy” rating and a $15.00 target price for the company. Wedbush lifted their price target on Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Barclays upped their price target on Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, B. Riley Financial raised their price objective on shares of Corsair Gaming from $7.50 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday.

Institutional Trading of Corsair Gaming

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its position in Corsair Gaming by 144.4% in the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after purchasing an additional 786,049 shares during the last quarter. Millennium Management LLC raised its position in shares of Corsair Gaming by 506.2% during the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock valued at $3,777,000 after buying an additional 530,914 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Corsair Gaming in the third quarter valued at about $3,877,000. Massachusetts Financial Services Co. MA grew its position 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. Finally, AQR Capital Management LLC grew its position in Corsair Gaming by 328.9% during the second quarter. AQR Capital Management LLC now owns 397,881 shares of the company’s stock worth $3,752,000 after buying an additional 305,103 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Stock Down 2.3%

Corsair Gaming stock opened at $9.85 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 123.14 and a beta of 1.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. Corsair Gaming has a fifty-two week low of $4.48 and a fifty-two week high of $13.10. The firm has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $7.01.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. As a group, analysts forecast that Corsair Gaming will post 0.48 earnings per share for the current year.

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.