Corsair Gaming (NASDAQ:CRSR) Shares Gap Up - Time to Buy?

Key Points

• Corsair Gaming's shares opened at $9.79 after a previous close of $8.86, reflecting increased trading activity with 373,812 shares exchanged.
• Multiple analysts have recently updated their ratings, with Barclays setting a target price of $10.00, while Goldman Sachs lowered their target to $8.00.
• Corsair Gaming reported quarterly earnings with revenue up 22.5% year-over-year, matching analyst estimates with earnings per share of $0.01.

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $8.86, but opened at $9.79. Corsair Gaming shares last traded at $9.31, with a volume of 373,812 shares trading hands.

Wall Street Analyst Weigh In

CRSR has been the subject of several recent research reports. Wall Street Zen upgraded Corsair Gaming from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Barclays cut their price target on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Wedbush reiterated an "outperform" rating and issued a $13.00 price target on shares of Corsair Gaming in a research note on Monday, May 5th. The Goldman Sachs Group cut their price target on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 price target on Corsair Gaming in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Corsair Gaming currently has a consensus rating of "Moderate Buy" and an average price target of $9.83.

Corsair Gaming Trading Up 3.0%

The firm has a market capitalization of $986.17 million, a price-to-earnings ratio of -11.48 and a beta of 1.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.75. The firm's 50-day simple moving average is $9.31 and its 200 day simple moving average is $9.09.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $320.11 million during the quarter, compared to the consensus estimate of $312.38 million. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The company's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. Equities analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its holdings in Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company's stock valued at $45,000 after purchasing an additional 1,120 shares during the period. Vontobel Holding Ltd. increased its holdings in Corsair Gaming by 3.2% in the second quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company's stock valued at $427,000 after purchasing an additional 1,390 shares during the period. Legal & General Group Plc increased its holdings in Corsair Gaming by 1.3% in the second quarter. Legal & General Group Plc now owns 122,484 shares of the company's stock valued at $1,155,000 after purchasing an additional 1,592 shares during the period. Cerity Partners LLC increased its holdings in Corsair Gaming by 16.4% in the first quarter. Cerity Partners LLC now owns 14,333 shares of the company's stock valued at $127,000 after purchasing an additional 2,016 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in Corsair Gaming by 8.6% in the second quarter. State of Alaska Department of Revenue now owns 27,079 shares of the company's stock valued at $254,000 after purchasing an additional 2,133 shares during the period. Institutional investors own 25.66% of the company's stock.

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.