Corsair Gaming, Inc. (NASDAQ:CRSR) Receives $9.07 Average PT from Analysts

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

A number of equities research analysts have weighed in on the stock. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. Wall Street Zen lowered shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. B. Riley dropped their price objective on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Finally, Wedbush cut their target price on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th.

Corsair Gaming Trading Up 1.4%

Shares of Corsair Gaming stock opened at $5.73 on Tuesday. The company’s fifty day simple moving average is $6.29 and its 200-day simple moving average is $7.94. The company has a market cap of $610.65 million, a price-to-earnings ratio of -16.85 and a beta of 1.53. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. Corsair Gaming has a 1 year low of $5.35 and a 1 year high of $13.02.

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

Insider Activity

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

Institutional Investors Weigh In On Corsair Gaming

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Corsair Gaming by 213.1% during the third quarter. JPMorgan Chase & Co. now owns 79,179 shares of the company’s stock valued at $706,000 after acquiring an additional 53,890 shares during the period. Virtus Advisers LLC raised its holdings in Corsair Gaming by 300.1% during the 3rd quarter. Virtus Advisers LLC now owns 19,147 shares of the company’s stock worth $171,000 after purchasing an additional 14,362 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Corsair Gaming during the 3rd quarter valued at about $229,000. Polymer Capital Management US LLC acquired a new position in Corsair Gaming during the 3rd quarter valued at about $256,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Corsair Gaming in the 3rd quarter valued at about $2,555,000. 25.66% of the stock is 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.