Corsair Gaming, Inc. (NASDAQ:CRSR) Receives Consensus Recommendation of “Hold” from Analysts

Corsair Gaming, Inc. (NASDAQ:CRSR) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.7143.

A number of analysts recently weighed in on CRSR shares. B. Riley Financial lifted their price target on Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Corsair Gaming in a report on Tuesday, February 17th. Zacks Research cut Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Robert W. Baird set a $6.00 target price on Corsair Gaming in a report on Friday, February 13th. Finally, Barclays decreased their target price on shares of Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th.

Corsair Gaming Trading Down 3.9%

NASDAQ CRSR opened at $5.20 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $554.63 million, a P/E ratio of -40.00 and a beta of 1.53. Corsair Gaming has a 52-week low of $4.48 and a 52-week high of $10.41. The firm has a 50-day moving average price of $5.50 and a 200 day moving average price of $6.63.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSR. Invesco Ltd. boosted its stake in shares of Corsair Gaming by 144.4% during the 4th quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after acquiring an additional 786,049 shares in the last quarter. Millennium Management LLC increased its stake in Corsair Gaming by 506.2% in the 4th quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock valued at $3,777,000 after purchasing an additional 530,914 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Corsair Gaming during the third quarter worth $3,877,000. Massachusetts Financial Services Co. MA raised its holdings in Corsair Gaming by 15.2% during the fourth 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 during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in Corsair Gaming by 128.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after purchasing an additional 352,000 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

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.