Corsair Gaming (NASDAQ:CRSR) Price Target Raised to $13.00

Corsair Gaming (NASDAQ:CRSR) had its target price lifted by Wedbush from $8.00 to $13.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also commented on CRSR. Zacks Research raised shares of Corsair Gaming from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. B. Riley Financial upped their target price on shares of Corsair Gaming from $7.50 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Craig Hallum reissued a “hold” rating and set a $10.00 price target on shares of Corsair Gaming in a research note on Monday, June 1st. Finally, Barclays raised their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.29.

Corsair Gaming Price Performance

Shares of CRSR stock opened at $11.20 on Monday. The stock’s fifty day moving average is $9.66 and its 200-day moving average is $7.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74. The stock has a market capitalization of $1.20 billion, a PE ratio of 140.02 and a beta of 1.85. Corsair Gaming has a 52 week low of $4.48 and a 52 week high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $354.51 million during the quarter, compared to analyst estimates of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Equities research analysts expect that Corsair Gaming will post 0.48 EPS for the current fiscal year.

Institutional Trading of Corsair Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of Corsair Gaming by 144.4% in the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock valued at $7,904,000 after purchasing an additional 786,049 shares during the last quarter. Millennium Management LLC raised its stake in shares of Corsair Gaming by 506.2% during the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock worth $3,777,000 after buying an additional 530,914 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Corsair Gaming during the third quarter worth approximately $3,877,000. Massachusetts Financial Services Co. MA raised its stake in shares of Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after buying an additional 401,171 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Corsair Gaming by 328.9% in the second quarter. AQR Capital Management LLC now owns 397,881 shares of the company’s stock valued at $3,752,000 after buying an additional 305,103 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Company Profile

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.