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

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.3333.

A number of equities research analysts have commented on CRSR shares. Zacks Research cut Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Weiss Ratings raised Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday. Robert W. Baird set a $6.00 price target on Corsair Gaming in a report on Friday, February 13th. Wall Street Zen cut Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays raised their price target on Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th.

Corsair Gaming Price Performance

NASDAQ CRSR opened at $6.72 on Monday. The company has a market capitalization of $718.23 million, a PE ratio of 84.01 and a beta of 1.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74. The business’s fifty day moving average is $6.14 and its 200 day moving average is $6.08. Corsair Gaming has a fifty-two week low of $4.48 and a fifty-two week high of $10.29.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Sell-side analysts predict that Corsair Gaming will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after acquiring an additional 3,681 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Corsair Gaming during the fourth quarter valued at about $37,000. BNP Paribas Financial Markets grew its position in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after purchasing an additional 1,551 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Corsair Gaming during the first quarter valued at about $56,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Corsair Gaming during the second quarter valued at about $97,000. 25.66% of the stock is owned by institutional investors.

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.