Corsair Gaming, Inc. (NASDAQ:CRSR) Receives Average Rating of “Hold” from Brokerages

Corsair Gaming, Inc. (NASDAQ:CRSR) has been given an average rating of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.7143.

CRSR has been the topic of several analyst reports. Zacks Research downgraded Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Craig Hallum reissued a “buy” rating and set a $8.00 price target on shares of Corsair Gaming in a research report on Friday, February 13th. B. Riley Financial upped their price target on shares of Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Finally, Robert W. Baird set a $6.00 price objective on shares of Corsair Gaming in a research note on Friday, February 13th.

Corsair Gaming Stock Down 3.8%

Shares of Corsair Gaming stock opened at $5.32 on Friday. The business has a 50-day moving average of $5.48 and a 200-day moving average of $6.51. 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 company has a market capitalization of $567.43 million, a PE ratio of -40.92 and a beta of 1.53. Corsair Gaming has a 1-year low of $4.48 and a 1-year high of $10.29.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.26 by $0.17. The business had revenue of $436.86 million for 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 company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities analysts forecast that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds have recently bought and sold shares of CRSR. Vanguard Group Inc. increased its holdings in Corsair Gaming by 4.0% in the third quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock valued at $61,697,000 after buying an additional 269,193 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Corsair Gaming by 15.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after acquiring an additional 401,171 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Corsair Gaming by 3.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock valued at $24,833,000 after purchasing an additional 98,588 shares during the period. State Street Corp boosted its holdings in shares of Corsair Gaming by 2.1% during the fourth quarter. State Street Corp now owns 1,725,659 shares of the company’s stock valued at $10,250,000 after acquiring an additional 35,301 shares during the period. Finally, Invesco Ltd. boosted its stake in Corsair Gaming by 144.4% during 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 period. 25.66% of the stock is currently 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.