Corsair Gaming, Inc. (NASDAQ:CRSR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSRGet Free Report) have received a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.3333.

CRSR has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Craig Hallum restated a “hold” rating and issued a $10.00 price target on shares of Corsair Gaming in a research note on Monday, June 1st. Wedbush raised their price target on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Barclays raised their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, May 8th.

View Our Latest Stock Analysis on Corsair Gaming

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently added to or reduced their stakes in CRSR. Invesco Ltd. boosted its position in 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 buying an additional 786,049 shares during the period. Millennium Management LLC boosted its position in Corsair Gaming by 506.2% during the 4th quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock worth $3,777,000 after buying an additional 530,914 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Corsair Gaming during the 3rd quarter worth approximately $3,877,000. Massachusetts Financial Services Co. MA boosted its position in Corsair Gaming by 15.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after buying an additional 401,171 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in Corsair Gaming by 128.9% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after buying an additional 352,000 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Trading Up 3.7%

CRSR opened at $8.95 on Friday. The company’s 50 day moving average is $7.48 and its 200-day moving average is $6.37. Corsair Gaming has a 1-year low of $4.48 and a 1-year high of $13.10. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The company has a market cap of $956.58 million, a P/E ratio of 111.89 and a beta of 1.83.

Corsair Gaming (NASDAQ:CRSRGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The company had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. During the same period last year, the company posted $0.11 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that Corsair Gaming will post 0.46 earnings per share for the current fiscal year.

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.

Further Reading

Analyst Recommendations for Corsair Gaming (NASDAQ:CRSR)

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