Corsair Gaming (NASDAQ:CRSR) Research Coverage Started at Roth Capital

Roth Capital began coverage on shares of Corsair Gaming (NASDAQ:CRSR) in a report published on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $15.00 target price on the stock.

CRSR has been the topic of several other research reports. Zacks Research upgraded shares of Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Craig Hallum restated a “hold” rating and issued a $10.00 price objective on shares of Corsair Gaming in a report on Monday, June 1st. Finally, Wedbush upped their price objective on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.57.

Corsair Gaming Price Performance

CRSR opened at $9.85 on Wednesday. The firm has a market cap of $1.05 billion, a PE ratio of 123.14 and a beta of 1.85. The stock has a 50-day moving average price of $9.15 and a 200-day moving average price of $7.01. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $13.10. 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 (NASDAQ:CRSR) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The company had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. During the same period in the prior year, the firm posted $0.11 EPS. Corsair Gaming’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts predict that Corsair Gaming will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Corsair Gaming during the 4th quarter valued at $37,000. Tower Research Capital LLC TRC grew its holdings in shares of Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after acquiring an additional 3,681 shares during the period. Cetera Investment Advisers bought a new stake in shares of Corsair Gaming in the first quarter worth $56,000. R Squared Ltd purchased a new stake in Corsair Gaming during the first quarter valued at $58,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Corsair Gaming during the fourth quarter valued at $62,000. 25.66% of the stock is currently owned by hedge funds and other 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.