Zacks Research Upgrades Corsair Gaming (NASDAQ:CRSR) to Strong-Buy

Corsair Gaming (NASDAQ:CRSR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Barclays lifted their price objective on Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Craig Hallum restated a “hold” rating and set a $10.00 target price on shares of Corsair Gaming in a research report on Monday, June 1st. Wedbush boosted their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen raised Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.33.

Corsair Gaming Stock Performance

CRSR opened at $8.86 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $8.54 and its two-hundred day moving average price is $6.70. The firm has a market capitalization of $946.96 million, a P/E ratio of 110.76 and a beta of 1.85. Corsair Gaming has a 12-month low of $4.48 and a 12-month high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, equities analysts forecast that Corsair Gaming will post 0.46 earnings per share for the current year.

Institutional Trading of Corsair Gaming

Several hedge funds have recently added to or reduced their stakes in CRSR. AQR Capital Management LLC lifted its stake in Corsair Gaming by 428.8% in the first quarter. AQR Capital Management LLC now owns 92,778 shares of the company’s stock valued at $822,000 after buying an additional 75,232 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Corsair Gaming by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,538 shares of the company’s stock worth $846,000 after acquiring an additional 10,620 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Corsair Gaming by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock worth $3,985,000 after acquiring an additional 204,351 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corsair Gaming by 15.8% during the second quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock worth $238,000 after acquiring an additional 3,454 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Corsair Gaming by 1.3% during the second quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock worth $1,155,000 after acquiring an additional 1,592 shares during the period. 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.