Corsair Gaming, Inc. (NASDAQ:CRSR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Corsair Gaming has a consensus analyst rating of “Moderate Buy”, based on coverage from eight brokerages. The average 12-month price target is about $9.57.
• Recent analyst actions were mixed but generally positive, including upgrades from Zacks Research and Wall Street Zen, while B. Riley Financial raised its price target to $9.00 but kept a neutral rating.
• The company most recently beat earnings expectations, reporting $0.27 EPS versus the expected $0.18 and revenue of $354.5 million slightly above estimates, though sales were still down 4.1% year over year.

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.5714.

Several analysts have commented on the stock. Weiss Ratings raised shares of Corsair Gaming from a "sell (e+)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Corsair Gaming from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. B. Riley Financial lifted their price objective on shares of Corsair Gaming from $7.50 to $9.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen upgraded shares of Corsair Gaming from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 20th. Finally, Roth Capital assumed coverage on shares of Corsair Gaming in a research report on Wednesday. They set a "buy" rating and a $15.00 target price on the stock.

Institutional Trading of Corsair Gaming

Several large investors have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. acquired a new position in shares of Corsair Gaming during the 4th quarter valued at about $37,000. Tower Research Capital LLC TRC lifted its holdings in Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock worth $49,000 after purchasing an additional 3,681 shares during the last quarter. Cetera Investment Advisers bought a new stake in Corsair Gaming during the first quarter worth approximately $56,000. R Squared Ltd bought a new stake in Corsair Gaming during the first quarter worth approximately $58,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Corsair Gaming during the fourth quarter valued at approximately $62,000. Institutional investors own 25.66% of the company's stock.

Corsair Gaming Stock Performance

Shares of NASDAQ CRSR opened at $9.85 on Friday. 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. The business's 50-day moving average price is $9.15 and its two-hundred day moving average price is $7.01. The company has a market capitalization of $1.05 billion, a P/E ratio of 123.14 and a beta of 1.85.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The business had revenue of $354.51 million during the quarter, compared to analyst estimates of $351.58 million. During the same period in the previous year, the company earned $0.11 EPS. The firm's revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Corsair Gaming will post 0.48 earnings per share for the current fiscal year.

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.

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