Corsair Gaming (NASDAQ:CRSR) Stock Rating Upgraded by Wall Street Zen

Corsair Gaming (NASDAQ:CRSR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently commented on CRSR. Robert W. Baird set a $10.00 price target on Corsair Gaming in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $13.00 price target on shares of Corsair Gaming in a research report on Monday, May 5th. Finally, Barclays decreased their price target 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Corsair Gaming Stock Performance

Shares of CRSR traded up $0.06 during midday trading on Friday, reaching $9.53. 949,084 shares of the stock were exchanged, compared to its average volume of 767,738. Corsair Gaming has a twelve month low of $5.60 and a twelve month high of $13.02. 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 company has a market cap of $1.01 billion, a P/E ratio of -10.25 and a beta of 1.77. The stock's 50 day simple moving average is $8.39 and its 200 day simple moving average is $8.66.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The firm had revenue of $369.75 million for the quarter, compared to analyst estimates of $366.20 million. During the same period in the prior year, the business posted $0.09 EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Corsair Gaming will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Corsair Gaming by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock valued at $38,426,000 after acquiring an additional 148,674 shares during the last quarter. Bank of Montreal Can bought a new position in Corsair Gaming in the fourth quarter valued at about $912,000. Invesco Ltd. grew its position in Corsair Gaming by 28.4% in the fourth quarter. Invesco Ltd. now owns 578,749 shares of the company's stock valued at $3,826,000 after acquiring an additional 127,948 shares during the last quarter. Intech Investment Management LLC grew its position in Corsair Gaming by 1,051.0% in the fourth quarter. Intech Investment Management LLC now owns 127,647 shares of the company's stock valued at $844,000 after acquiring an additional 116,557 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Corsair Gaming in the fourth quarter valued at about $329,000. Institutional investors own 25.66% of the company's stock.

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.

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