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

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.3333.

Several research firms have weighed in on CRSR. Craig Hallum reissued a “hold” rating and issued a $10.00 price target on shares of Corsair Gaming in a report on Monday, June 1st. B. Riley Financial increased their price target on shares of Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Wedbush increased their price target on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen cut shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research cut shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 269,193 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Corsair Gaming by 15.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after acquiring an additional 401,171 shares during the period. Dimensional Fund Advisors LP raised its holdings in Corsair Gaming by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock valued at $24,833,000 after acquiring an additional 98,588 shares during the period. State Street Corp raised its holdings in Corsair Gaming by 2.1% in the 4th quarter. State Street Corp now owns 1,725,659 shares of the company’s stock valued at $10,250,000 after acquiring an additional 35,301 shares during the period. Finally, Invesco Ltd. grew its position in shares of Corsair Gaming by 144.4% during the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after purchasing an additional 786,049 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Stock Down 3.2%

Shares of CRSR stock opened at $8.41 on Friday. 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 firm’s 50-day moving average is $7.34 and its 200-day moving average is $6.32. The stock has a market cap of $898.86 million, a price-to-earnings ratio of 105.14 and a beta of 1.83. Corsair Gaming has a 52-week low of $4.48 and a 52-week high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) 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 net margin of 0.71% and a return on equity of 9.71%. Corsair Gaming’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. Sell-side analysts predict that Corsair Gaming will post 0.46 EPS for the current 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.