Corsair Gaming (NASDAQ:CRSR) Earns Outperform Rating from Wedbush

Corsair Gaming (NASDAQ:CRSR)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $7.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 11.91% from the stock’s previous close.

A number of other brokerages have also weighed in on CRSR. B. Riley Financial lifted their target price on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday. Craig Hallum reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Corsair Gaming in a research note on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. Robert W. Baird set a $6.00 price objective on shares of Corsair Gaming in a research note on Friday. Finally, Zacks Research upgraded Corsair Gaming from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.71.

Corsair Gaming Trading Down 7.9%

Shares of CRSR stock traded down $0.54 during trading hours on Tuesday, reaching $6.26. 1,066,123 shares of the stock were exchanged, compared to its average volume of 2,790,415. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Corsair Gaming has a 12-month low of $4.48 and a 12-month high of $13.02. The firm has a market capitalization of $666.60 million, a price-to-earnings ratio of -48.65 and a beta of 1.55. The company’s 50-day moving average price is $5.75 and its 200-day moving average price is $7.16.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Thursday, February 12th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $436.86 million for the quarter, compared to analysts’ expectations of $422.66 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Corsair Gaming will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Thi L. La acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the acquisition, the chief executive officer owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This trade represents a 11.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 58.38% of the company’s stock.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently modified their holdings of CRSR. Ameritas Investment Partners Inc. grew its stake in Corsair Gaming by 30.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after acquiring an additional 1,120 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Corsair Gaming during the 2nd quarter worth approximately $45,000. Tower Research Capital LLC TRC boosted its holdings in shares of Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after purchasing an additional 3,681 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Corsair Gaming in the fourth quarter valued at approximately $37,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Corsair Gaming by 24.7% in the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after purchasing an additional 1,551 shares during the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

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.