Roth Capital Begins Coverage on Corsair Gaming (NASDAQ:CRSR)

Investment analysts at Roth Capital began coverage on shares of Corsair Gaming (NASDAQ:CRSR) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $15.00 price target on the stock. Roth Capital’s target price would suggest a potential upside of 48.81% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Wedbush lifted their price target on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Barclays upped their price objective on Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Zacks Research raised Corsair Gaming from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Craig Hallum reiterated a “hold” rating and issued a $10.00 price target on shares of Corsair Gaming in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.57.

Corsair Gaming Stock Down 4.9%

CRSR stock opened at $10.08 on Wednesday. The firm’s 50-day moving average is $9.09 and its two-hundred day moving average is $6.99. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 126.02 and a beta of 1.85. Corsair Gaming has a 52 week low of $4.48 and a 52 week high of $13.10. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The business had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Corsair Gaming will post 0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Corsair Gaming during the 4th quarter worth $37,000. Tower Research Capital LLC TRC raised its position in shares of 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 purchasing an additional 3,681 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Corsair Gaming during the first quarter worth $56,000. R Squared Ltd purchased a new stake in shares of Corsair Gaming during the first quarter valued at $58,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Corsair Gaming during the fourth quarter valued at $62,000. Institutional investors own 25.66% of the company’s stock.

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.