Corsair Gaming (NASDAQ:CRSR) Shares Gap Up - Should You 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.

Analyst Ratings Changes

CRSR has been the topic of a number of analyst reports. Barclays dropped their target price on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen raised Corsair Gaming from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group lowered their target price on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and set a $13.00 price objective on shares of Corsair Gaming in a research report on Monday, May 5th. Finally, Robert W. Baird set a $10.00 price target on shares of 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.83.

Corsair Gaming Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.52 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $9.31 and a 200-day simple moving average of $9.09. The company has a market cap of $948.46 million, a PE ratio of -9.68 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The company had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. During the same period last year, the firm earned ($0.07) EPS. The firm's revenue for the quarter was up 22.5% on a year-over-year basis. On average, research analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Corsair Gaming

Hedge funds have recently modified their holdings of the business. BNP Paribas purchased a new stake in Corsair Gaming during the fourth quarter worth about $33,000. Quarry LP purchased a new position in shares of Corsair Gaming during the fourth quarter valued at approximately $34,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Corsair Gaming during the fourth quarter worth $50,000. Quadrant Capital Group LLC increased its stake in shares of Corsair Gaming by 45.8% during the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company's stock valued at $53,000 after acquiring an additional 2,538 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Corsair Gaming in the 4th quarter valued at $56,000. 25.66% of the stock is owned by institutional investors and hedge funds.

About Corsair Gaming

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.