Brokerages Set Corsair Gaming, Inc. (NASDAQ:CRSR) Price Target at $9.57

Corsair Gaming, Inc. (NASDAQ:CRSR) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $9.5714.

Several equities analysts have weighed in on the company. Wedbush lifted their target price on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Roth Capital initiated coverage on Corsair Gaming in a report on Wednesday, July 22nd. They issued a “buy” rating and a $15.00 target price on the stock. Craig Hallum reissued a “hold” rating and set a $10.00 price objective on shares of Corsair Gaming in a report on Monday, June 1st. Zacks Research upgraded Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, B. Riley Financial lifted their target price on shares of Corsair Gaming from $7.50 to $9.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $10.27 on Friday. Corsair Gaming has a twelve month low of $4.48 and a twelve month high of $13.10. The stock has a market cap of $1.10 billion, a PE ratio of 128.39 and a beta of 1.85. The stock has a fifty day simple moving average of $9.37 and a 200-day simple moving average of $7.12. 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 released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Equities analysts anticipate that Corsair Gaming will post 0.48 earnings per share for the current year.

Institutional Trading of Corsair Gaming

Several hedge funds have recently made changes to their positions in CRSR. Kemnay Advisory Services Inc. acquired a new stake in Corsair Gaming in the fourth quarter valued at about $37,000. Tower Research Capital LLC TRC increased its stake in Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after purchasing an additional 3,681 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Corsair Gaming in the first quarter valued at $56,000. R Squared Ltd purchased a new stake in shares of Corsair Gaming in the 1st quarter worth about $58,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Corsair Gaming in the 4th quarter worth about $62,000. Institutional investors and hedge funds 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.