Wedbush Boosts Corsair Gaming (NASDAQ:CRSR) Price Target to $8.00

Key Points

• Wedbush raised Corsair Gaming's price target from $7.00 to $8.00 and kept an "outperform" rating, implying roughly a 7.8% upside from the prior close.
• Analyst views are mixed: MarketBeat shows a consensus rating of "Hold" with an average target of $8.33, while individual targets range from $6 to $10 and the analyst split is 4 Buys, 2 Holds and 1 Sell.
• Corsair recently beat quarterly expectations with EPS $0.43 vs $0.26 and revenue $436.86M (up 5.6% YoY); shares traded around $7.42 and the company has a market cap near $793M and a negative trailing P/E.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) had its price target hoisted by Wedbush from $7.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's target price would suggest a potential upside of 7.80% from the company's previous close.

CRSR has been the topic of several other reports. Wall Street Zen upgraded Corsair Gaming from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Robert W. Baird set a $6.00 price target on Corsair Gaming in a research report on Friday, February 13th. Barclays reiterated an "overweight" rating and set a $9.00 price target on shares of Corsair Gaming in a research report on Friday. Craig Hallum lifted their price target on Corsair Gaming from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Friday. Finally, Zacks Research cut Corsair Gaming from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 13th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.33.

Corsair Gaming Stock Performance

Corsair Gaming stock traded up $0.33 during mid-day trading on Friday, hitting $7.42. 1,339,146 shares of the company's stock traded hands, compared to its average volume of 1,883,718. Corsair Gaming has a one year low of $4.48 and a one year high of $10.29. The company has a market cap of $793.16 million, a PE ratio of -56.83 and a beta of 1.59. The firm has a 50 day moving average price of $5.94 and a 200 day moving average price of $6.10. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $422.66 million. During the same period last year, the firm earned $0.23 EPS. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Corsair Gaming will post 0.41 EPS 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. Kemnay Advisory Services Inc. acquired a new stake in shares of Corsair Gaming during the fourth quarter worth $37,000. Tower Research Capital LLC TRC grew its holdings in shares of Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company's stock valued at $49,000 after buying an additional 3,681 shares in the last quarter. R Squared Ltd purchased a new position in shares of Corsair Gaming during the first quarter valued at $58,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Corsair Gaming during the fourth quarter valued at $62,000. Finally, Fifth Third Bancorp grew its holdings in shares of Corsair Gaming by 3,805.4% during the first quarter. Fifth Third Bancorp now owns 11,677 shares of the company's stock valued at $65,000 after buying an additional 11,378 shares in the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

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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