Corsair Gaming, Inc. (NASDAQ:CRSR) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Corsair Gaming, Inc. has received a consensus recommendation of "Moderate Buy" from six analysts, with an average 12-month target price of $9.83.
• Several large investors have increased their stakes in Corsair, with Vanguard Group boosting its position by 5.0% and Alyeska Investment Group increasing its stake by 302.3%.
• Corsair Gaming reported a 22.5% year-over-year revenue increase, posting $320.11 million in revenue for the last quarter, equating to earnings of $0.01 EPS.

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.8333.

A number of equities research analysts have recently commented on the stock. Barclays raised shares of Corsair Gaming to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th.

Institutional Trading of Corsair Gaming

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Corsair Gaming by 5.0% during the first quarter. Vanguard Group Inc. now owns 6,101,154 shares of the company's stock worth $54,056,000 after purchasing an additional 287,795 shares in the last quarter. Palisade Capital Management LP lifted its stake in shares of Corsair Gaming by 3.5% in the 1st quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company's stock valued at $21,410,000 after purchasing an additional 81,376 shares during the last quarter. Sunriver Management LLC acquired a new position in shares of Corsair Gaming in the 1st quarter valued at $16,733,000. Geode Capital Management LLC lifted its stake in shares of Corsair Gaming by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,231,456 shares of the company's stock valued at $11,614,000 after purchasing an additional 61,075 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Corsair Gaming by 302.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 914,879 shares of the company's stock worth $8,106,000 after acquiring an additional 687,477 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Corsair Gaming Trading Up 1.0%

Corsair Gaming stock opened at $8.47 on Friday. The stock has a 50-day moving average of $8.88 and a two-hundred day moving average of $8.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.45. Corsair Gaming has a one year low of $5.64 and a one year high of $13.02. The stock has a market cap of $898.16 million, a PE ratio of -10.46 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%.The firm had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. During the same period last year, the business posted ($0.07) earnings per share. The company's revenue for the quarter was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.

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