Craig Hallum Raises Corsair Gaming (NASDAQ:CRSR) Price Target to $10.00

Key Points

• Craig Hallum raised its price target on Corsair Gaming from $8.00 to $10.00 and kept a "buy" rating, implying a potential upside of 41.04% from the current price.
• Analyst views are mixed—four Buy, two Hold and one Sell—giving a MarketBeat consensus rating of "Hold" with a consensus target of $8.00.
• Corsair recently beat EPS expectations ($0.43 vs. $0.26) and reported revenue of $436.9M (up 5.6% YoY), yet the stock trades near $7.09 with a negative P/E (-54.54) and a market cap around $758M.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) had its price target hoisted by stock analysts at Craig Hallum from $8.00 to $10.00 in a research note issued to investors on Friday. The brokerage presently has a "buy" rating on the stock. Craig Hallum's target price indicates a potential upside of 41.04% from the company's current price.

Other analysts also recently issued research reports about the company. B. Riley Financial lifted their price target on Corsair Gaming from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. Zacks Research downgraded shares of Corsair Gaming from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 13th. Wedbush reiterated an "outperform" rating and set a $7.00 target price on shares of Corsair Gaming in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Corsair Gaming from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. Finally, Robert W. Baird set a $6.00 price target on shares of Corsair Gaming in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $8.00.

Corsair Gaming Trading Down 2.3%

Corsair Gaming stock opened at $7.09 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.54. Corsair Gaming has a fifty-two week low of $4.48 and a fifty-two week high of $10.29. The stock has a market cap of $757.78 million, a P/E ratio of -54.54 and a beta of 1.59. The firm's fifty day moving average price is $5.94 and its 200-day moving average price is $6.10.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. Corsair Gaming had a positive return on equity of 6.71% and a negative net margin of 0.87%.The company had revenue of $436.86 million during the quarter, compared to analyst estimates of $422.66 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that Corsair Gaming will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Corsair Gaming

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Corsair Gaming by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company's stock valued at $61,697,000 after purchasing an additional 269,193 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Corsair Gaming by 15.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company's stock valued at $18,075,000 after purchasing an additional 401,171 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Corsair Gaming by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company's stock worth $24,833,000 after buying an additional 98,588 shares in the last quarter. State Street Corp lifted its holdings in Corsair Gaming by 2.1% in the fourth quarter. State Street Corp now owns 1,725,659 shares of the company's stock worth $10,250,000 after buying an additional 35,301 shares during the period. Finally, Invesco Ltd. lifted its holdings in Corsair Gaming by 144.4% in the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company's stock worth $7,904,000 after buying an additional 786,049 shares during the period. 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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