Corsair Gaming (NASDAQ:CRSR) Rating Increased to Buy at Zacks Investment Research

Corsair Gaming (NASDAQ:CRSR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage currently has a $37.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 13.53% from the company’s current price.

According to Zacks, “Corsair Gaming, Inc. designs, markets and distributes gaming and streaming peripherals, components and systems principally in the United States and internationally. Corsair Gaming, Inc. is based in Fremont, California. “

CRSR has been the subject of a number of other research reports. Wedbush lifted their price objective on shares of Corsair Gaming from $49.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Robert W. Baird raised their price objective on shares of Corsair Gaming from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 26th. The Goldman Sachs Group downgraded shares of Corsair Gaming from a “buy” rating to a “neutral” rating and upped their price target for the company from $35.00 to $44.00 in a research report on Wednesday, February 10th. Macquarie lifted their price target on Corsair Gaming from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Finally, DA Davidson boosted their target price on Corsair Gaming from $33.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $44.30.

Shares of CRSR stock opened at $32.59 on Monday. Corsair Gaming has a 12-month low of $14.09 and a 12-month high of $51.37. The stock has a 50 day simple moving average of $33.22 and a 200-day simple moving average of $34.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.41 and a quick ratio of 0.94.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Tuesday, May 4th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.25. The firm had revenue of $529.40 million during the quarter, compared to analyst estimates of $453.27 million. The company’s revenue for the quarter was up 201.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Sell-side analysts expect that Corsair Gaming will post 1.38 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Exane Derivatives purchased a new stake in shares of Corsair Gaming in the 1st quarter worth approximately $26,000. Advisory Services Network LLC bought a new position in shares of Corsair Gaming in the fourth quarter worth about $50,000. TRUE Private Wealth Advisors purchased a new position in shares of Corsair Gaming during the 4th quarter valued at about $82,000. SG Americas Securities LLC bought a new position in shares of Corsair Gaming during the 4th quarter valued at approximately $103,000. Finally, Citigroup Inc. purchased a new stake in Corsair Gaming in the 4th quarter worth approximately $105,000. 13.32% of the stock is currently owned by institutional investors.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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Analyst Recommendations for Corsair Gaming (NASDAQ:CRSR)

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