Corsair Gaming (NASDAQ:CRSR) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Corsair Gaming from hold to strong-buy, adding to a generally positive analyst tone around the stock.
• Across analysts, Corsair now carries a Moderate Buy consensus with an average price target of $8.33; recent calls also included upgrades from Wall Street Zen and higher targets from Wedbush and Barclays.
• Corsair reported better-than-expected Q1 earnings, posting EPS of $0.27 versus the $0.18 estimate and revenue of $354.51 million versus expectations, even though revenue was still down 4.1% year over year.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Wall Street Zen raised Corsair Gaming from a "buy" rating to a "strong-buy" rating in a research 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. Craig Hallum restated a "hold" rating and set a $10.00 price objective on shares of Corsair Gaming in a report on Monday, June 1st. Wedbush lifted their price objective on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, Barclays increased their target price on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of "Moderate Buy" and an average price target of $8.33.

Get Corsair Gaming SMS alerts:

Sign Up

Corsair Gaming Stock Performance

NASDAQ:CRSR opened at $8.86 on Tuesday. The company has a fifty day moving average of $8.54 and a 200-day moving average of $6.70. The firm has a market capitalization of $946.96 million, a P/E ratio of 110.76 and a beta of 1.85. 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 has a twelve month low of $4.48 and a twelve month high of $13.10.

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, topping the consensus estimate of $0.18 by $0.09. The business had revenue of $354.51 million for the quarter, compared to analyst estimates of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The company's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. As a group, sell-side analysts anticipate that Corsair Gaming will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Corsair Gaming in the fourth quarter valued at about $37,000. Tower Research Capital LLC TRC raised its position in Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock valued at $49,000 after purchasing an additional 3,681 shares during the last quarter. Cetera Investment Advisers bought a new position in Corsair Gaming during the 1st quarter valued at approximately $56,000. R Squared Ltd purchased a new stake in Corsair Gaming in the 1st quarter worth approximately $58,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Corsair Gaming during the fourth quarter valued at approximately $62,000. 25.66% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.