Corsair Gaming, Inc. (NASDAQ:CRSR) Given Average Rating of “Moderate Buy” by Analysts

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.7143.

A number of brokerages have weighed in on CRSR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Wall Street Zen upgraded Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Macquarie Infrastructure lowered their price objective on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Barclays dropped their target price on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Zacks Research upgraded Corsair Gaming from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Corsair Gaming by 428.8% in the first quarter. AQR Capital Management LLC now owns 92,778 shares of the company’s stock worth $822,000 after buying an additional 75,232 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corsair Gaming by 12.5% in the 1st 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 last quarter. Goldman Sachs Group Inc. lifted its position in Corsair Gaming by 83.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock valued at $3,985,000 after acquiring an additional 204,351 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Corsair Gaming during the 2nd quarter valued at $509,000. Finally, Versor Investments LP increased its holdings in shares of Corsair Gaming by 105.5% in the 2nd quarter. Versor Investments LP now owns 79,100 shares of the company’s stock worth $746,000 after purchasing an additional 40,600 shares in the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Price Performance

CRSR opened at $5.77 on Wednesday. The stock has a fifty day simple moving average of $5.59 and a two-hundred day simple moving average of $6.90. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $615.43 million, a price-to-earnings ratio of -44.38 and a beta of 1.53. Corsair Gaming has a 12-month low of $4.48 and a 12-month high of $11.62.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Thursday, February 12th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. The firm had revenue of $436.86 million for the quarter, compared to analysts’ expectations of $422.66 million. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. 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.