Corsair Gaming, Inc. (NASDAQ:CRSR) Stock Has Consensus Price Target of $12.00

Corsair Gaming, Inc. (NASDAQ:CRSR) has been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $12.29.

A number of equities analysts have weighed in on the stock. Wedbush upped their price target on shares of Corsair Gaming from $8.00 to $13.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Corsair Gaming from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. B. Riley Financial upped their price objective on Corsair Gaming from $7.50 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Barclays increased their target price on Corsair Gaming from $9.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th.

Corsair Gaming Stock Performance

CRSR opened at $13.32 on Monday. The company’s 50 day moving average is $13.15 and its 200 day moving average is $9.10. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 44.40 and a beta of 1.95. Corsair Gaming has a 12-month low of $4.48 and a 12-month high of $14.98.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.16. Corsair Gaming had a net margin of 2.36% and a return on equity of 13.10%. The business had revenue of $314.33 million for the quarter, compared to analysts’ expectations of $310.47 million. During the same quarter last year, the company posted $0.01 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Corsair Gaming will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors have recently added to or reduced their stakes in CRSR. Fulcrum Asset Management LLP purchased a new position in shares of Corsair Gaming in the third quarter worth $204,000. Brighton Jones LLC boosted its position in shares of Corsair Gaming by 13.0% during the third quarter. Brighton Jones LLC now owns 19,342 shares of the company’s stock worth $261,000 after acquiring an additional 2,226 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Corsair Gaming during the third quarter worth $150,000. Chicago Partners Investment Group LLC boosted its position in shares of Corsair Gaming by 9.1% during the third quarter. Chicago Partners Investment Group LLC now owns 12,175 shares of the company’s stock worth $167,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in Corsair Gaming by 24.5% during the third quarter. Vise Technologies Inc. now owns 13,026 shares of the company’s stock valued at $176,000 after acquiring an additional 2,564 shares in the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

About Corsair Gaming

Corsair Gaming, Inc develops and sells hardware, peripherals, systems and accessories for gamers, content creators and PC enthusiasts. Its product portfolio includes keyboards, mice, headsets, streaming equipment, gaming furniture, computer components, custom-built PCs and related software.

The company markets products under the Corsair brand and through brands including Elgato, SCUF Gaming, ORIGIN PC and Drop. Elgato focuses on tools for content creation and live streaming, SCUF Gaming produces customizable game controllers, ORIGIN PC builds custom gaming computers, and Drop offers enthusiast-oriented mechanical keyboards and other computer accessories.

Founded in 1994, Corsair serves customers globally through retailers, distributors, online marketplaces and its direct-to-consumer websites.