B. Riley Securities Forecasts Strong Price Appreciation for Corsair Gaming (NASDAQ:CRSR) Stock

Corsair Gaming (NASDAQ:CRSR) had its target price upped by stock analysts at B. Riley Securities from $6.00 to $7.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley Securities’ price objective indicates a potential upside of 52.84% from the company’s current price.

Several other brokerages have also recently issued reports on CRSR. Barclays reaffirmed an “overweight” rating and set a $8.00 target price on shares of Corsair Gaming in a research report on Friday. Macquarie Infrastructure lowered their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a report on Wednesday, November 5th. B. Riley Financial reiterated a “neutral” rating on shares of Corsair Gaming in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.44.

Corsair Gaming Stock Performance

CRSR opened at $4.58 on Friday. Corsair Gaming has a 1-year low of $4.48 and a 1-year high of $13.02. The company has a market cap of $488.09 million, a price-to-earnings ratio of -13.47 and a beta of 1.55. The company’s fifty day moving average price is $5.75 and its two-hundred day moving average price is $7.22. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.17. The business had revenue of $436.86 million for the quarter, compared to analysts’ expectations of $422.66 million. Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. On average, analysts expect that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Thi L. La purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the purchase, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its holdings in shares of Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after acquiring an additional 1,120 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Corsair Gaming by 5.1% in the third quarter. State of Alaska Department of Revenue now owns 28,459 shares of the company’s stock valued at $253,000 after acquiring an additional 1,380 shares during the period. BNP Paribas Financial Markets increased its holdings in Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after acquiring an additional 1,551 shares during the period. Legal & General Group Plc boosted its holdings in Corsair Gaming by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock valued at $1,155,000 after purchasing an additional 1,592 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Corsair Gaming by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 47,932 shares of the company’s stock valued at $452,000 after purchasing an additional 2,246 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other 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.