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

Corsair Gaming, Inc. (NASDAQ:CRSR) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.3333.

A number of equities research analysts have recently issued reports on CRSR shares. Zacks Research cut Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Robert W. Baird set a $6.00 price objective on Corsair Gaming in a report on Friday, February 13th. Wall Street Zen lowered shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Craig Hallum raised their price target on shares of Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wedbush raised their price target on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds have recently bought and sold shares of CRSR. AQR Capital Management LLC increased its position in Corsair Gaming by 428.8% during the first quarter. AQR Capital Management LLC now owns 92,778 shares of the company’s stock worth $822,000 after acquiring an additional 75,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Corsair Gaming by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,538 shares of the company’s stock worth $846,000 after acquiring an additional 10,620 shares during the period. Goldman Sachs Group Inc. increased its position in Corsair Gaming by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock worth $3,985,000 after acquiring an additional 204,351 shares during the period. JPMorgan Chase & Co. increased its position in Corsair Gaming by 15.8% during the second quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock worth $238,000 after acquiring an additional 3,454 shares during the period. Finally, Legal & General Group Plc increased its position in Corsair Gaming by 1.3% during 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 during the period. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Stock Performance

Shares of NASDAQ:CRSR opened at $6.72 on Monday. Corsair Gaming has a 12-month low of $4.48 and a 12-month high of $10.29. The stock has a market cap of $718.23 million, a PE ratio of 84.01 and a beta of 1.59. The business has a 50 day moving average of $6.14 and a 200-day moving average of $6.06. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Corsair Gaming will post 0.42 earnings per share for the current year.

Corsair Gaming Company Profile

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.