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

Corsair Gaming (NASDAQ:CRSR) had its price objective increased by stock analysts at Wedbush from $7.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 7.80% from the company’s current price.

CRSR has been the subject of a number of other research reports. Zacks Research cut Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Barclays reissued an “overweight” rating and set a $9.00 price objective on shares of Corsair Gaming in a research report on Friday. Craig Hallum boosted their price target on Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley Financial boosted their price target on Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, Robert W. Baird set a $6.00 price target on Corsair Gaming in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Corsair Gaming currently has a consensus rating of “Hold” and a consensus target price of $8.33.

Corsair Gaming Stock Up 4.7%

CRSR traded up $0.33 during trading on Friday, reaching $7.42. 1,339,146 shares of the stock traded hands, compared to its average volume of 1,883,718. The stock has a market cap of $793.16 million, a price-to-earnings ratio of -56.83 and a beta of 1.59. Corsair Gaming has a fifty-two week low of $4.48 and a fifty-two week high of $10.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.54 and a quick ratio of 0.84. The stock’s 50-day simple moving average is $5.94 and its two-hundred day simple moving average is $6.10.

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

Institutional Trading of Corsair Gaming

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in shares of Corsair Gaming by 2.1% in the first quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock worth $1,266,000 after buying an additional 4,735 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Corsair Gaming by 3,805.4% in the first quarter. Fifth Third Bancorp now owns 11,677 shares of the company’s stock worth $65,000 after purchasing an additional 11,378 shares during the period. R Squared Ltd bought a new position in shares of Corsair Gaming in the first quarter worth about $58,000. Counterpoint Mutual Funds LLC increased its stake in shares of Corsair Gaming by 100.6% in the first quarter. Counterpoint Mutual Funds LLC now owns 101,551 shares of the company’s stock worth $564,000 after purchasing an additional 50,922 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in shares of Corsair Gaming in the first quarter worth about $124,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.