Corsair Gaming (NASDAQ:CRSR) Shares Up 5.8% - Here's What Happened

Key Points

• Shares jumped 5.8% on Monday to $6.02 (intraday high $6.04) on 981,895 shares traded, up from a $5.69 close the prior session.
• Quarterly results beat expectations: Corsair reported EPS of $0.43 versus a $0.26 consensus and revenue of $436.86 million (vs. $422.66M), a 5.6% year-over-year revenue increase.
• Analyst and institutional sentiment is mixed — the MarketBeat consensus is a "Hold" with an average price target of $7.71, yet several firms raised ratings/targets (e.g., Craig Hallum $8 buy, Wedbush $7 outperform) while large investors like Invesco and Millennium substantially increased stakes (Invesco +144%, Millennium +506%), with institutions owning 25.66% of the stock.

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report)'s share price shot up 5.8% on Monday . The company traded as high as $6.04 and last traded at $6.02. 981,895 shares changed hands during trading, a decline of 9% from the average session volume of 1,077,553 shares. The stock had previously closed at $5.69.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRSR. Craig Hallum restated a "buy" rating and set a $8.00 price objective on shares of Corsair Gaming in a research report on Friday, February 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Corsair Gaming in a research report on Monday, December 29th. B. Riley Financial lifted their price target on Corsair Gaming from $6.00 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Wedbush reiterated an "outperform" rating and issued a $7.00 price target on shares of Corsair Gaming in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Corsair Gaming from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $7.71.

Corsair Gaming Trading Up 5.8%

The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.18. The firm has a market cap of $642.09 million, a P/E ratio of -46.31 and a beta of 1.49. The company's 50 day simple moving average is $5.54 and its 200-day simple moving average is $6.26.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.17. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. The business had revenue of $436.86 million during the quarter, compared to the consensus estimate of $422.66 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Corsair Gaming

Several institutional investors and hedge funds have recently modified their holdings of CRSR. Invesco Ltd. raised its stake in shares of Corsair Gaming by 144.4% during the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company's stock valued at $7,904,000 after acquiring an additional 786,049 shares in the last quarter. Millennium Management LLC raised its stake in shares of Corsair Gaming by 506.2% during the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company's stock valued at $3,777,000 after acquiring an additional 530,914 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Corsair Gaming during the third quarter valued at approximately $3,877,000. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $18,075,000 after acquiring an additional 401,171 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Corsair Gaming by 128.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company's stock valued at $5,575,000 after acquiring an additional 352,000 shares in the last quarter. Institutional investors own 25.66% of the company's stock.

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.

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