Analysts Set Corsair Gaming, Inc. (NASDAQ:CRSR) PT at $9.07

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.0714.

Several equities analysts have weighed in on the company. Craig Hallum set a $10.00 price target on Corsair Gaming in a report on Wednesday, November 5th. Macquarie cut their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Wedbush reduced their price target on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Barclays decreased their price target on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Wall Street Zen cut shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd.

Corsair Gaming Stock Performance

Shares of NASDAQ CRSR opened at $5.77 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. The company has a market cap of $614.91 million, a P/E ratio of -16.97 and a beta of 1.53. The firm’s fifty day moving average is $6.24 and its two-hundred day moving average is $7.91. Corsair Gaming has a 52-week low of $5.35 and a 52-week high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The company had revenue of $345.76 million for the quarter, compared to the consensus estimate of $354.04 million. During the same period last year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO Thi L. La acquired 50,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was acquired at an average cost of $6.10 per share, with a total value of $305,000.00. Following the purchase, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This trade represents a 11.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Samuel R. Szteinbaum bought 100,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $6.59 per share, with a total value of $659,000.00. Following the acquisition, the director owned 420,267 shares in the company, valued at approximately $2,769,559.53. This trade represents a 31.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 58.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in Corsair Gaming during the second quarter valued at $45,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Corsair Gaming by 30.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after acquiring an additional 1,120 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 during the period. BNP Paribas Financial Markets grew 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 valued at $74,000 after purchasing an additional 1,551 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Corsair Gaming by 70.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after purchasing an additional 3,571 shares during the period. 25.66% of the stock is owned by hedge funds and other 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.