Brokerages Set Corsair Gaming, Inc. (NASDAQ:CRSR) PT at $9.07

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have earned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.0714.

CRSR has been the subject of a number of recent analyst reports. B. Riley dropped their price target on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. Wall Street Zen lowered shares of Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Barclays lowered their price objective on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Craig Hallum set a $10.00 price objective on shares of Corsair Gaming in a research report on Wednesday, November 5th.

Insiders Place Their Bets

In other news, Director Samuel R. Szteinbaum acquired 100,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $6.59 per share, with a total value of $659,000.00. Following the acquisition, the director owned 420,267 shares of the company’s stock, valued at $2,769,559.53. This trade represents a 31.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thi L. La bought 50,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were acquired at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the transaction, the chief executive officer owned 480,726 shares in the company, valued at approximately $2,932,428.60. This trade represents a 11.61% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in shares of Corsair Gaming during the 2nd quarter worth about $560,000. Dynamic Technology Lab Private Ltd acquired a new position in Corsair Gaming during the second quarter valued at approximately $460,000. Vontobel Holding Ltd. increased its stake in Corsair Gaming by 3.2% in the second quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company’s stock valued at $427,000 after purchasing an additional 1,390 shares in the last quarter. Versor Investments LP raised its holdings in Corsair Gaming by 105.5% in the second quarter. Versor Investments LP now owns 79,100 shares of the company’s stock worth $746,000 after purchasing an additional 40,600 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Corsair Gaming by 78.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,585 shares of the company’s stock worth $332,000 after purchasing an additional 15,227 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Price Performance

Shares of NASDAQ:CRSR opened at $4.91 on Friday. The company’s fifty day moving average is $5.92 and its 200-day moving average is $7.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. Corsair Gaming has a 52 week low of $4.80 and a 52 week high of $13.02. The company has a market capitalization of $523.26 million, a PE ratio of -14.44 and a beta of 1.55.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $345.76 million during the quarter, compared to analyst estimates of $354.04 million. Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. Corsair Gaming’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) earnings per share. Equities research analysts predict that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

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.