Corsair Gaming (NASDAQ:CRSR) Raised to “Buy” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Corsair Gaming (NASDAQ:CRSR – Free Report) from a hold rating to a buy rating in a research report released on Friday.

A number of other research firms have also recently weighed in on CRSR. The Goldman Sachs Group lowered their price target on Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Corsair Gaming in a report on Monday, May 5th. Robert W. Baird set a $10.00 price target on Corsair Gaming in a research report on Wednesday, May 7th. Finally, Barclays decreased their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and an average target price of $10.00.

View Our Latest Report on Corsair Gaming

Corsair Gaming Price Performance

Shares of CRSR opened at $9.53 on Friday. Corsair Gaming has a twelve month low of $5.60 and a twelve month high of $13.02. The stock’s 50 day moving average is $8.39 and its two-hundred day moving average is $8.67. The firm has a market capitalization of $1.01 billion, a PE ratio of -10.25 and a beta of 1.77. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.

Corsair Gaming (NASDAQ:CRSR – Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.20% and a negative return on equity of 4.65%. The business had revenue of $369.75 million during the quarter, compared to analysts’ expectations of $366.20 million. During the same period in the prior year, the firm posted $0.09 EPS. Corsair Gaming’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts anticipate that Corsair Gaming will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock worth $33,000 after acquiring an additional 3,414 shares during the last quarter. BNP Paribas purchased a new stake in Corsair Gaming during the 4th quarter worth about $33,000. Quarry LP purchased a new stake in Corsair Gaming during the 4th quarter worth about $34,000. KLP Kapitalforvaltning AS purchased a new stake in Corsair Gaming during the 4th quarter worth about $50,000. Finally, Quadrant Capital Group LLC increased its position in Corsair Gaming by 45.8% during the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock worth $53,000 after purchasing an additional 2,538 shares in the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Company Profile

(Get Free Report)

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.

Recommended Stories