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

Corsair Gaming, Inc. (NASDAQ:CRSR) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.3333.

A number of brokerages recently issued reports on CRSR. Barclays boosted their price target on Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wedbush boosted their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Zacks Research lowered Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Finally, Craig Hallum restated a “hold” rating and set a $10.00 target price on shares of Corsair Gaming in a report on Monday, June 1st.

Corsair Gaming Stock Up 7.4%

Shares of NASDAQ CRSR opened at $9.25 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74. The firm has a market capitalization of $988.66 million, a price-to-earnings ratio of 115.64 and a beta of 1.82. The stock has a 50 day moving average price of $8.18 and a 200 day moving average price of $6.57. Corsair Gaming has a 52-week low of $4.48 and a 52-week high of $13.10.

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

Institutional Trading of Corsair Gaming

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Corsair Gaming during the fourth quarter worth $37,000. BNP Paribas Financial Markets lifted its holdings in Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after buying an additional 1,551 shares during the period. Cetera Investment Advisers purchased a new stake in Corsair Gaming during the first quarter worth $56,000. Finally, Lazard Asset Management LLC purchased a new stake in Corsair Gaming during the second quarter worth $97,000. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.