Brokerages Set Corsair Gaming, Inc. (NASDAQ:CRSR) PT at $9.57

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.5714.

Several equities research analysts have issued reports on CRSR shares. Barclays increased their price target on Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wedbush lifted 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. Craig Hallum reissued a “hold” rating and set a $10.00 price objective on shares of Corsair Gaming in a research report on Monday, June 1st. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th.

Corsair Gaming Trading Up 6.9%

Shares of NASDAQ CRSR opened at $10.53 on Friday. The company’s fifty day moving average is $9.22 and its 200-day moving average is $7.05. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 131.64 and a beta of 1.85. Corsair Gaming has a twelve month low of $4.48 and a twelve month high of $13.10. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts predict that Corsair Gaming will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Corsair Gaming

A number of large investors have recently added to or reduced their stakes in CRSR. Tower Research Capital LLC TRC lifted its holdings in shares of Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after purchasing an additional 3,681 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Corsair Gaming during the fourth quarter worth about $37,000. BNP Paribas Financial Markets grew its holdings in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after buying an additional 1,551 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Corsair Gaming in the 1st quarter valued at approximately $56,000. Finally, Lazard Asset Management LLC acquired a new stake in Corsair Gaming in the 2nd quarter valued at approximately $97,000. Institutional investors own 25.66% of the company’s stock.

About Corsair Gaming

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.