Corsair Gaming (NASDAQ:CRSR) Shares Gap Up – Time to Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) gapped up prior to trading on Wednesday . The stock had previously closed at $8.09, but opened at $8.77. Corsair Gaming shares last traded at $9.0270, with a volume of 1,458,759 shares trading hands.

Wall Street Analysts Forecast Growth

CRSR has been the topic of a number of analyst reports. Wedbush upped their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Barclays upped their price target on Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Robert W. Baird set a $6.00 price target on Corsair Gaming in a research report on Friday, February 13th. Finally, Craig Hallum upped their price target on Corsair Gaming from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.33.

Corsair Gaming Trading Up 10.0%

The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $6.36 and a 200 day moving average of $6.03. The company has a market cap of $950.72 million, a P/E ratio of 111.08 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating 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 company had revenue of $354.51 million for the quarter, compared to analyst estimates of $351.58 million. During the same quarter in the prior year, the company earned $0.11 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts predict that Corsair Gaming, Inc. will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in Corsair Gaming by 144.4% in the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after acquiring an additional 786,049 shares in the last quarter. Millennium Management LLC raised its stake in shares of Corsair Gaming by 506.2% in the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock worth $3,777,000 after purchasing an additional 530,914 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Corsair Gaming in the third quarter worth approximately $3,877,000. Massachusetts Financial Services Co. MA raised its stake in shares of Corsair Gaming by 15.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after purchasing an additional 401,171 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Corsair Gaming by 128.9% in the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after purchasing an additional 352,000 shares during the last quarter. 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.