Corsair Gaming (NASDAQ:CRSR) Stock Price Up 11% – What’s Next?

Shares of Corsair Gaming, Inc. (NASDAQ:CRSRGet Free Report) rose 11% during mid-day trading on Friday . The stock traded as high as $7.65 and last traded at $7.6910. Approximately 369,411 shares changed hands during trading, a decline of 80% from the average daily volume of 1,848,098 shares. The stock had previously closed at $6.93.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRSR. Wedbush lifted their price objective on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Craig Hallum lifted their target price on Corsair Gaming from $8.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays lifted their target price on Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, 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 report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.33.

Read Our Latest Stock Report on Corsair Gaming

Corsair Gaming Price Performance

The company has a market capitalization of $818.70 million, a PE ratio of 95.82 and a beta of 1.59. The stock has a fifty day simple moving average of $6.22 and a 200-day simple moving average of $6.02. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSRGet Free Report) last released its earnings results 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. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The company had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts anticipate that Corsair Gaming, Inc. will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Corsair Gaming by 15.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after buying an additional 401,171 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Corsair Gaming by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock valued at $24,833,000 after buying an additional 98,588 shares in the last quarter. State Street Corp lifted its stake in Corsair Gaming by 2.1% in the 4th quarter. State Street Corp now owns 1,725,659 shares of the company’s stock valued at $10,250,000 after buying an additional 35,301 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Corsair Gaming by 144.4% during the 4th 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 period. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Company Profile

(Get Free Report)

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.

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