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

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.0714.

CRSR has been the topic of several recent research reports. Wedbush reduced their price target on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. B. Riley cut their target price on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Wall Street Zen lowered shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Macquarie dropped their price target on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, Craig Hallum set a $10.00 target price on shares of Corsair Gaming in a report on Wednesday, November 5th.

Insider Transactions at Corsair Gaming

In other Corsair Gaming news, CEO Thi L. La purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $6.10 per share, with a total value of $305,000.00. Following the completion of the purchase, the chief executive officer owned 480,726 shares in the company, valued at $2,932,428.60. This trade represents a 11.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samuel R. Szteinbaum acquired 100,000 shares of Corsair Gaming stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $6.59 per share, with a total value of $659,000.00. Following the acquisition, the director directly owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. This trade represents a 31.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 58.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Corsair Gaming during the second quarter worth approximately $560,000. Dynamic Technology Lab Private Ltd acquired a new position in Corsair Gaming in the 2nd quarter worth approximately $460,000. Vontobel Holding Ltd. grew its holdings in shares of Corsair Gaming by 3.2% during the second quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company’s stock valued at $427,000 after buying an additional 1,390 shares in the last quarter. Versor Investments LP boosted its position in Corsair Gaming by 105.5% during the 2nd quarter. Versor Investments LP now owns 79,100 shares of the company’s stock worth $746,000 after acquiring an additional 40,600 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Corsair Gaming by 78.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,585 shares of the company’s stock worth $332,000 after purchasing an additional 15,227 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $5.10 on Friday. The firm has a market capitalization of $543.53 million, a P/E ratio of -15.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. Corsair Gaming has a 1-year low of $5.01 and a 1-year high of $13.02. The business’s 50-day simple moving average is $5.99 and its 200-day simple moving average is $7.50.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $345.76 million during the quarter, compared to analyst estimates of $354.04 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.Corsair Gaming’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.29) EPS. Equities analysts predict that Corsair Gaming will post 0.22 EPS for the current year.

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.