Corsair Gaming (NASDAQ:CRSR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Corsair Gaming (NASDAQ:CRSR) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

CRSR has been the topic of several other research reports. Barclays lowered their target price on shares of Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Corsair Gaming in a research note on Tuesday, February 17th. B. Riley Financial raised their price objective on shares of Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Finally, Macquarie Infrastructure lowered their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.71.

Corsair Gaming Trading Down 3.9%

Shares of CRSR stock opened at $5.40 on Friday. The firm has a fifty day moving average of $5.65 and a 200-day moving average of $7.04. The stock has a market cap of $575.48 million, a price-to-earnings ratio of -41.54 and a beta of 1.55. Corsair Gaming has a 52-week low of $4.48 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.54.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 0.87% and a positive return on equity of 6.71%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities research analysts forecast that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently made changes to their positions in CRSR. Vanguard Group Inc. raised its position in Corsair Gaming by 4.0% in the 3rd 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 raised its holdings in shares of 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 valued at $18,075,000 after purchasing an additional 401,171 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Corsair Gaming by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock worth $24,833,000 after purchasing an additional 98,588 shares in the last quarter. State Street Corp boosted its holdings in Corsair Gaming by 2.1% during the fourth quarter. State Street Corp now owns 1,725,659 shares of the company’s stock worth $10,250,000 after purchasing an additional 35,301 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Corsair Gaming by 144.4% during the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after purchasing an additional 786,049 shares during the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.