Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned a consensus recommendation of "Buy" from the ten brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $44.67.
Several equities research analysts recently issued reports on the stock. Barclays reduced their target price on shares of Corsair Gaming from $51.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, May 5th. Zacks Investment Research lowered shares of Corsair Gaming from a "buy" rating to a "hold" rating in a report on Wednesday, July 7th.
Corsair Gaming stock opened at $29.66 on Wednesday. The business has a 50 day moving average price of $32.04. Corsair Gaming has a 12-month low of $14.09 and a 12-month high of $51.37. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.60.
Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Tuesday, May 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.33 by $0.25. The firm had revenue of $529.40 million during the quarter, compared to analysts' expectations of $453.27 million. The company's revenue was up 201.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. Analysts forecast that Corsair Gaming will post 1.74 EPS for the current year.
In related news, major shareholder Group (Cayman) Lp Corsair sold 5,000,000 shares of the firm's stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $31.87, for a total value of $159,350,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Straub sold 5,898 shares of the firm's stock in a transaction on Monday, May 10th. The shares were sold at an average price of $144.74, for a total transaction of $853,676.52. Over the last three months, insiders sold 8,660,339 shares of company stock valued at $294,818,541. 71.70% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Exane Derivatives bought a new stake in Corsair Gaming in the first quarter worth $26,000. Panagora Asset Management Inc. bought a new stake in Corsair Gaming in the first quarter worth $33,000. Rockefeller Capital Management L.P. lifted its position in Corsair Gaming by 126.7% in the first quarter. Rockefeller Capital Management L.P. now owns 1,682 shares of the company's stock worth $55,000 after buying an additional 940 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Corsair Gaming in the first quarter worth $66,000. Finally, Amundi Asset Management US Inc. bought a new stake in Corsair Gaming in the first quarter worth $67,000. 10.39% of the stock is owned by hedge funds and other institutional investors.
Corsair Gaming Company Profile
Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.
Read More: Average Daily Trade Volume - ADTV
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Corsair Gaming, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corsair Gaming wasn't on the list.
While Corsair Gaming currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here