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

Corsair Gaming, Inc. (NASDAQ:CRSR) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.0714.

A number of research analysts have weighed in on CRSR shares. Barclays decreased their target price on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Wedbush dropped their target price on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. Macquarie dropped their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, B. Riley cut their price objective on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, December 22nd.

Insider Activity at Corsair Gaming

In other Corsair Gaming news, Director Samuel R. Szteinbaum acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $6.59 per share, for a total transaction of $659,000.00. Following the completion of the acquisition, the director owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. The trade was a 31.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thi L. La bought 50,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were acquired at an average cost of $6.10 per share, with a total value of $305,000.00. Following the purchase, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 58.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRSR. Goldman Sachs Group Inc. lifted its position in shares of Corsair Gaming by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock worth $3,985,000 after purchasing an additional 204,351 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Corsair Gaming in the 2nd quarter valued at $560,000. Dynamic Technology Lab Private Ltd purchased a new stake in Corsair Gaming in the second quarter valued at approximately $460,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Corsair Gaming during the second quarter worth about $317,000. Finally, Vontobel Holding Ltd. increased its stake in Corsair Gaming by 3.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company’s stock valued at $427,000 after buying an additional 1,390 shares during the period. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $6.00 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $6.44 and its 200-day simple moving average is $8.00. The company has a market cap of $639.42 million, a PE ratio of -17.65 and a beta of 1.53. Corsair Gaming has a 1-year low of $5.35 and a 1-year high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The firm had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $354.04 million. During the same quarter in the previous year, the business posted ($0.29) EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities research analysts anticipate that Corsair Gaming will post 0.22 EPS for the current fiscal year.

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.