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

Corsair Gaming, Inc. (NASDAQ:CRSR) has received a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.7143.

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Zacks Research lowered Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Robert W. Baird set a $6.00 target price on Corsair Gaming in a research note on Friday, February 13th. Craig Hallum reiterated a “buy” rating and issued a $8.00 target price on shares of Corsair Gaming in a research note on Friday, February 13th. Finally, Barclays cut their target price on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th.

Corsair Gaming Price Performance

CRSR opened at $6.47 on Thursday. The business’s 50-day moving average is $5.74 and its two-hundred day moving average is $6.17. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $10.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.84. The firm has a market capitalization of $690.09 million, a PE ratio of -49.77 and a beta of 1.49.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. Corsair Gaming had a positive return on equity of 6.71% and a negative net margin of 0.87%.The company had revenue of $436.86 million for the quarter, compared to analyst estimates of $422.66 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Corsair Gaming will post 0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in 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 worth $253,000 after acquiring an additional 1,380 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Corsair Gaming by 24.7% in the second 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 in the last quarter. Legal & General Group Plc boosted its holdings in Corsair Gaming by 1.3% in the second quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock worth $1,155,000 after acquiring an additional 1,592 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Corsair Gaming by 4.9% in the second quarter. Prudential Financial Inc. now owns 47,932 shares of the company’s stock worth $452,000 after acquiring an additional 2,246 shares in the last quarter. Finally, Optimize Financial Inc boosted its holdings in Corsair Gaming by 1.5% in the fourth quarter. Optimize Financial Inc now owns 158,745 shares of the company’s stock worth $943,000 after acquiring an additional 2,284 shares in the last quarter. Institutional investors and hedge funds 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.