Corsair Gaming (NASDAQ:CRSR) Reaches New 52-Week High – Should You Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s share price hit a new 52-week high on Thursday . The stock traded as high as $12.05 and last traded at $12.5440, with a volume of 4884373 shares traded. The stock had previously closed at $9.82.

Wall Street Analyst Weigh In

CRSR has been the topic of several analyst reports. Robert W. Baird set a $6.00 price target on shares of Corsair Gaming in a research note on Friday, February 13th. Barclays lifted their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. 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. Craig Hallum lifted their price objective on Corsair Gaming from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wall Street Zen cut Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.33.

Corsair Gaming Stock Performance

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 business’s 50 day moving average is $6.72 and its two-hundred day moving average is $6.14. The company has a market cap of $1.30 billion, a PE ratio of 151.77 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last released its 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 analysts’ expectations of $351.58 million. During the same quarter in the previous year, the company earned $0.11 EPS. Corsair Gaming’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Corsair Gaming, Inc. will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Corsair Gaming by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock worth $61,697,000 after purchasing an additional 269,193 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 worth $18,075,000 after purchasing an additional 401,171 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $24,833,000 after purchasing an additional 98,588 shares in the last quarter. State Street Corp lifted its holdings in Corsair Gaming by 2.1% in the 4th 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 in the last quarter. Finally, Invesco Ltd. lifted its holdings in Corsair Gaming by 144.4% in 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 in the last quarter. Hedge funds and other institutional investors 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.