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

Key Points

• Corsair Gaming shares gapped up before trading, opening at $10.34 after closing at $9.88 and last trading around $10.72. The move came on moderate volume of 365,489 shares.
• Analyst sentiment has been mixed but generally positive, with recent actions including a strong-buy upgrade from Wall Street Zen and a new $15 price target from Roth Capital. The consensus rating is Moderate Buy, though the average target price is $9.29.
• The company recently beat earnings expectations, reporting $0.27 EPS versus the $0.18 estimate and revenue of $354.51 million, though sales were down 4.1% year over year. Corsair also reported solid balance-sheet metrics, including low debt-to-equity of 0.18.

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.88, but opened at $10.34. Corsair Gaming shares last traded at $10.7150, with a volume of 365,489 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on CRSR. Wall Street Zen upgraded shares of Corsair Gaming from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 20th. Wedbush raised their price objective on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Roth Capital began coverage on shares of Corsair Gaming in a report on Wednesday. They set a "buy" rating and a $15.00 price objective for the company. 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. Finally, Craig Hallum restated a "hold" rating and issued a $10.00 target price on shares of Corsair Gaming in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $9.29.

Corsair Gaming Stock Performance

The company has a market cap of $1.15 billion, a PE ratio of 135.02 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. The company has a 50-day moving average of $8.97 and a 200-day moving average of $6.93.

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. 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 the consensus estimate of $351.58 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. Corsair Gaming's revenue was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Corsair Gaming, Inc. will post 0.46 earnings per share for the current year.

Institutional Trading of Corsair Gaming

Several institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company's stock worth $18,075,000 after purchasing an additional 401,171 shares during the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in Corsair Gaming in the 4th quarter valued at about $1,158,000. WINTON GROUP Ltd increased its stake in Corsair Gaming by 104.6% in the 4th quarter. WINTON GROUP Ltd now owns 182,991 shares of the company's stock valued at $1,087,000 after buying an additional 93,538 shares during the last quarter. Investor AB bought a new position in shares of Corsair Gaming during the 4th quarter worth approximately $741,000. Finally, AXQ Capital LP bought a new position in shares of Corsair Gaming in the fourth quarter valued at approximately $323,000. Hedge funds and other institutional investors own 25.66% of the company's stock.

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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