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

Corsair Gaming, Inc. (NASDAQ:CRSR) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.3333.

A number of brokerages have weighed in on CRSR. Zacks Research lowered Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Craig Hallum restated a “hold” rating and issued a $10.00 price objective on shares of Corsair Gaming in a research report on Monday, June 1st. Wall Street Zen raised shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Weiss Ratings upgraded shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Barclays lifted their price objective on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th.

Corsair Gaming Price Performance

Shares of NASDAQ:CRSR opened at $8.90 on Tuesday. The firm has a fifty day moving average price of $8.40 and a two-hundred day moving average price of $6.64. The company has a market cap of $951.23 million, a price-to-earnings ratio of 111.26 and a beta of 1.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. Corsair Gaming has a one year low of $4.48 and a one year high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. Analysts anticipate that Corsair Gaming will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Corsair Gaming by 149.5% during the 1st quarter. Bank of America Corp DE now owns 230,700 shares of the company’s stock valued at $1,280,000 after acquiring an additional 138,242 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Corsair Gaming by 160.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock worth $686,000 after buying an additional 76,054 shares during the period. Cetera Investment Advisers purchased a new position in shares of Corsair Gaming during the 1st quarter valued at about $56,000. First Trust Advisors LP bought a new position in shares of Corsair Gaming during the 1st quarter valued at approximately $606,000. Finally, Principal Financial Group Inc. grew its stake in shares of Corsair Gaming by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock valued at $1,266,000 after acquiring an additional 4,735 shares during the period. 25.66% of the stock is currently 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.