B. Riley Securities Forecasts Strong Price Appreciation for Corsair Gaming (NASDAQ:CRSR) Stock

Corsair Gaming (NASDAQ:CRSR) had its target price upped by equities research analysts at B. Riley Securities from $6.00 to $7.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley Securities’ target price suggests a potential upside of 52.84% from the stock’s previous close.

A number of other brokerages have also recently commented on CRSR. Wall Street Zen upgraded shares of Corsair Gaming from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. B. Riley Financial reiterated a “neutral” rating on shares of Corsair Gaming in a report on Friday, February 6th. Craig Hallum set a $10.00 target price on Corsair Gaming in a report on Wednesday, November 5th. Barclays reaffirmed an “overweight” rating and issued a $8.00 price target on shares of Corsair Gaming in a research note on Friday. Finally, Macquarie Infrastructure dropped their price objective on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Corsair Gaming presently has an average rating of “Hold” and a consensus target price of $8.44.

Corsair Gaming Stock Down 7.7%

Shares of NASDAQ:CRSR opened at $4.58 on Friday. The firm has a fifty day moving average of $5.75 and a 200 day moving average of $7.22. Corsair Gaming has a 52-week low of $4.48 and a 52-week high of $13.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. The firm has a market capitalization of $488.09 million, a PE ratio of -13.47 and a beta of 1.55.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.26 by $0.17. The firm had revenue of $436.86 million for the quarter, compared to analyst estimates of $422.66 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. As a group, research analysts anticipate that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Insider Activity

In other Corsair Gaming news, CEO Thi L. La bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the acquisition, the chief executive officer directly owned 480,726 shares in the company, valued at $2,932,428.60. The trade was a 11.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in Corsair Gaming in the second quarter worth about $560,000. Dynamic Technology Lab Private Ltd bought a new position in Corsair Gaming during the 2nd quarter valued at approximately $460,000. Versor Investments LP raised its stake in Corsair Gaming by 105.5% during the second quarter. Versor Investments LP now owns 79,100 shares of the company’s stock valued at $746,000 after buying an additional 40,600 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Corsair Gaming in the second quarter worth $98,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Corsair Gaming during the second quarter valued at $509,000. 25.66% of the stock is owned by hedge funds and other institutional investors.

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.