Corsair Gaming (NASDAQ:CRSR) Receives Hold Rating from Craig Hallum

by · The Markets Daily

Corsair Gaming (NASDAQ:CRSR – Get Free Report)‘s stock had its “hold” rating reiterated by equities research analysts at Craig Hallum in a report released on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. Craig Hallum’s price target points to a potential downside of 17.63% from the company’s previous close.

A number of other research analysts also recently commented on the stock. B. Riley Financial boosted their price objective on shares of Corsair Gaming from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. 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 research report on Friday, May 8th. Barclays boosted their price objective on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Robert W. Baird set a $6.00 price objective on shares of Corsair Gaming in a research report on Friday, February 13th. Finally, Zacks Research cut shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Corsair Gaming presently has an average rating of “Hold” and a consensus target price of $8.33.

Check Out Our Latest Analysis on Corsair Gaming

Corsair Gaming Price Performance

NASDAQ CRSR opened at $12.14 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. The company’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $6.13. Corsair Gaming has a 12 month low of $4.48 and a 12 month high of $13.10. The company has a market capitalization of $1.30 billion, a P/E ratio of 151.77 and a beta of 1.82.

Corsair Gaming (NASDAQ:CRSR – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping 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 business had revenue of $354.51 million for the quarter, compared to the consensus estimate of $351.58 million. During the same period last year, the firm posted $0.11 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Corsair Gaming will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake 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. Legal & General Group Plc raised its stake in shares of Corsair Gaming by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock valued at $1,155,000 after buying an additional 1,592 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Corsair Gaming by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 47,932 shares of the company’s stock worth $452,000 after acquiring an additional 2,246 shares during the period. Optimize Financial Inc lifted its holdings in shares of Corsair Gaming by 1.5% during the 4th quarter. Optimize Financial Inc now owns 158,745 shares of the company’s stock worth $943,000 after acquiring an additional 2,284 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Corsair Gaming by 15.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company’s stock valued at $238,000 after acquiring an additional 3,454 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

About Corsair Gaming

(Get Free Report)

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.

Featured Articles