Corsair Gaming (NASDAQ:CRSR) Stock Rating Upgraded by Wall Street Zen

Corsair Gaming (NASDAQ:CRSR) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also commented on CRSR. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Corsair Gaming in a research report on Tuesday. Barclays dropped their price target on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Craig Hallum reaffirmed a “buy” rating and set a $8.00 price objective on shares of Corsair Gaming in a research report on Friday, February 13th. Macquarie Infrastructure lowered their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.71.

Corsair Gaming Trading Up 0.7%

NASDAQ:CRSR opened at $5.62 on Friday. The firm’s fifty day moving average is $5.67 and its 200-day moving average is $7.09. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.54. Corsair Gaming has a 52 week low of $4.48 and a 52 week high of $13.02. The firm has a market cap of $598.92 million, a P/E ratio of -43.23 and a beta of 1.55.

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

Insider Transactions at Corsair Gaming

In other Corsair Gaming news, CEO Thi L. La purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average price of $6.10 per share, for a total transaction 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. This trade represents a 11.61% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 58.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its holdings in shares of 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 last quarter. Virtus Advisers LLC acquired a new position in Corsair Gaming during the 2nd quarter valued at about $45,000. Tower Research Capital LLC TRC increased its holdings in Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after purchasing an additional 3,681 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Corsair Gaming during the 4th quarter worth approximately $37,000. Finally, BNP Paribas Financial Markets increased its holdings in Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after purchasing an additional 1,551 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

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.