Corsair Gaming’s (CRSR) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Corsair Gaming (NASDAQ:CRSR) in a research report released on Tuesday,Benzinga reports. They currently have a $7.00 price target on the stock.

A number of other research analysts have also recently commented on the company. Macquarie Infrastructure cut their target price on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Robert W. Baird set a $6.00 price objective on Corsair Gaming in a report on Friday. Craig Hallum reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Corsair Gaming in a research report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Corsair Gaming from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Corsair Gaming has a consensus rating of “Moderate Buy” and an average target price of $7.71.

Corsair Gaming Trading Down 18.3%

Shares of CRSR opened at $5.55 on Tuesday. The company’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $7.14. The company has a market cap of $591.46 million, a P/E ratio of -42.69 and a beta of 1.55. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Corsair Gaming has a twelve month low of $4.48 and a twelve month high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. The firm had revenue of $436.86 million during the quarter, compared to analysts’ expectations of $422.66 million. During the same period in the previous year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts expect that Corsair Gaming will post 0.22 EPS for the current year.

Insider Activity

In other news, CEO Thi L. La purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the purchase, the chief executive officer owned 480,726 shares in the company, valued at approximately $2,932,428.60. This represents a 11.61% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

A number of hedge funds have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new stake in shares of Corsair Gaming in the 4th quarter valued at about $37,000. Ameritas Investment Partners Inc. increased its holdings in Corsair Gaming by 30.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after buying an additional 1,120 shares during the period. Virtus Advisers LLC bought a new position in Corsair Gaming in the second quarter worth approximately $45,000. Tower Research Capital LLC TRC lifted its holdings in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in 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 during the period. 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.