Corsair Gaming, Inc. (NASDAQ:CRSR) Given Consensus Rating of “Hold” by Brokerages

Corsair Gaming, Inc. (NASDAQ:CRSR) has earned a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.3333.

A number of research analysts have recently commented on CRSR shares. Zacks Research cut Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Wedbush increased their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Robert W. Baird set a $6.00 price target on Corsair Gaming in a research note on Friday, February 13th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, B. Riley Financial increased their price target on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, February 13th.

Corsair Gaming Stock Down 5.3%

NASDAQ CRSR opened at $9.92 on Friday. The business has a fifty day moving average price of $7.15 and a two-hundred day moving average price of $6.26. 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 stock has a market capitalization of $1.06 billion, a PE ratio of 124.02 and a beta of 1.83.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRSR. AQR Capital Management LLC raised its position in Corsair Gaming by 428.8% during the 1st quarter. AQR Capital Management LLC now owns 92,778 shares of the company’s stock worth $822,000 after purchasing an additional 75,232 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Corsair Gaming by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,538 shares of the company’s stock worth $846,000 after purchasing an additional 10,620 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Corsair Gaming by 83.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock worth $3,985,000 after purchasing an additional 204,351 shares during the last quarter. JPMorgan Chase & Co. raised its position in Corsair Gaming by 15.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock worth $238,000 after purchasing an additional 3,454 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Corsair Gaming by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock worth $1,155,000 after purchasing an additional 1,592 shares during the last quarter. 25.66% of the stock is owned by institutional investors.

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.