Zacks Research Upgrades Corsair Gaming (NASDAQ:CRSR) to Strong-Buy

Corsair Gaming (NASDAQ:CRSR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Craig Hallum reaffirmed a “hold” rating and set a $10.00 price objective on shares of Corsair Gaming in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Barclays raised their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wedbush boosted their price objective on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.33.

Corsair Gaming Price Performance

Shares of CRSR stock opened at $8.86 on Tuesday. The business’s fifty day moving average is $8.54 and its 200 day moving average is $6.70. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18. The stock has a market cap of $946.96 million, a price-to-earnings ratio of 110.76 and a beta of 1.85. Corsair Gaming has a twelve month low of $4.48 and a twelve month high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results 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 firm had revenue of $354.51 million during the quarter, compared to analyst estimates of $351.58 million. During the same period last year, the business earned $0.11 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. Research analysts expect that Corsair Gaming will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

A number of hedge funds have recently made changes to their positions in CRSR. Kemnay Advisory Services Inc. purchased a new position in shares of Corsair Gaming in the fourth quarter valued at $37,000. Tower Research Capital LLC TRC raised its stake in Corsair Gaming by 245.9% during the second 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 bought a new position in Corsair Gaming during the first quarter valued at $56,000. R Squared Ltd purchased a new position in shares of Corsair Gaming in the 1st quarter worth $58,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Corsair Gaming in the 4th quarter worth about $62,000. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

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.