Corsair Gaming (NASDAQ:CRSR) Stock Price Up 11% – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR) shares shot up 11% on Friday . The stock traded as high as $7.65 and last traded at $7.6910. 369,411 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,848,098 shares. The stock had previously closed at $6.93.

Analysts Set New Price Targets

Several brokerages recently weighed in on CRSR. Craig Hallum increased their target price on Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. B. Riley Financial increased their price target on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Zacks Research downgraded Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Wedbush increased their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Robert W. Baird set a $6.00 price target on Corsair Gaming in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.33.

Corsair Gaming Stock Up 10.5%

The company has a market capitalization of $818.70 million, a price-to-earnings ratio of 95.82 and a beta of 1.59. The firm has a 50 day moving average price of $6.22 and a two-hundred day moving average price of $6.02. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company 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 revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, sell-side analysts expect that Corsair Gaming, Inc. 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 modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Corsair Gaming by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock valued at $61,697,000 after purchasing an additional 269,193 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Corsair Gaming by 128.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after acquiring an additional 352,000 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Corsair Gaming by 15.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after acquiring an additional 401,171 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Corsair Gaming during the 3rd quarter worth $1,047,000. Finally, Optimize Financial Inc acquired a new position in Corsair Gaming during the 3rd quarter worth $1,396,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.