Corsair Gaming (NASDAQ:CRSR) Now Covered by Craig Hallum

Key Points

• Craig Hallum has initiated coverage on Corsair Gaming (NASDAQ:CRSR) with a "buy" rating, following other analysts who also upgraded the stock's ratings recently.
• Corsair Gaming's stock is currently trading at $7.94, down 1.5%, with an average price target among analysts of $10.13, indicating potential upside.
• The company's recent earnings report showed a revenue increase of 22.5% year-over-year, with an EPS of $0.01 meeting consensus estimates.

Equities research analysts at Craig Hallum started coverage on shares of Corsair Gaming (NASDAQ:CRSR - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set a "buy" rating on the stock.

Other research analysts also recently issued research reports about the company. Barclays raised Corsair Gaming to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. B. Riley assumed coverage on Corsair Gaming in a research report on Thursday, October 2nd. They set a "neutral" rating and a $10.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Corsair Gaming in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.13.

Corsair Gaming Stock Down 1.5%

NASDAQ CRSR opened at $7.94 on Wednesday. The stock's 50-day moving average price is $8.67 and its 200-day moving average price is $8.52. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Corsair Gaming has a 52 week low of $5.64 and a 52 week high of $13.02. The company has a market capitalization of $841.96 million, a P/E ratio of -9.80 and a beta of 1.76.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%.The firm had revenue of $320.11 million for the quarter, compared to the consensus estimate of $312.38 million. During the same quarter last year, the company earned ($0.07) earnings per share. The business's revenue for the quarter was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Corsair Gaming will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors and hedge funds have recently modified their holdings of CRSR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Corsair Gaming by 18.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,263 shares of the company's stock worth $365,000 after acquiring an additional 8,545 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Corsair Gaming during the 4th quarter worth approximately $91,000. GAMMA Investing LLC raised its position in Corsair Gaming by 1,466.5% during the 1st quarter. GAMMA Investing LLC now owns 105,204 shares of the company's stock valued at $932,000 after purchasing an additional 98,488 shares in the last quarter. Principal Financial Group Inc. raised its position in Corsair Gaming by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 224,338 shares of the company's stock valued at $1,988,000 after purchasing an additional 5,596 shares in the last quarter. Finally, Palisade Capital Management LP raised its position in Corsair Gaming by 3.5% during the 1st quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company's stock valued at $21,410,000 after purchasing an additional 81,376 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

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.