Corsair Gaming, Inc. (NASDAQ:CRSR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSRGet Rating) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $25.22.

CRSR has been the topic of several research analyst reports. DA Davidson reduced their target price on Corsair Gaming to $20.00 in a research note on Tuesday, August 9th. Cowen reduced their target price on Corsair Gaming to $17.00 in a research note on Tuesday, August 9th.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Corsair Gaming by 156.5% in the first quarter. BlackRock Inc. now owns 4,717,854 shares of the company’s stock worth $99,829,000 after acquiring an additional 2,878,715 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Corsair Gaming by 21.1% in the first quarter. Vanguard Group Inc. now owns 3,977,924 shares of the company’s stock worth $84,173,000 after acquiring an additional 692,493 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 5.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,622,920 shares of the company’s stock worth $21,309,000 after acquiring an additional 82,940 shares in the last quarter. State Street Corp boosted its holdings in Corsair Gaming by 5.9% in the second quarter. State Street Corp now owns 1,052,986 shares of the company’s stock worth $13,826,000 after acquiring an additional 58,909 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Corsair Gaming by 224.2% in the first quarter. Bank of New York Mellon Corp now owns 540,458 shares of the company’s stock worth $11,437,000 after acquiring an additional 373,738 shares in the last quarter. 22.91% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Price Performance

CRSR opened at $13.87 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.74 and a current ratio of 1.56. Corsair Gaming has a 52-week low of $12.23 and a 52-week high of $29.80. The stock has a market capitalization of $1.33 billion, a PE ratio of -34.67 and a beta of 1.47. The stock’s 50 day moving average price is $14.89 and its 200-day moving average price is $16.34.

Corsair Gaming (NASDAQ:CRSRGet Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.24). Corsair Gaming had a negative net margin of 2.43% and a positive return on equity of 4.42%. The business had revenue of $283.90 million for the quarter, compared to analysts’ expectations of $274.81 million. During the same period last year, the firm posted $0.33 earnings per share. Corsair Gaming’s quarterly revenue was down 40.0% on a year-over-year basis. On average, equities research analysts predict that Corsair Gaming will post 0.13 EPS for the current year.

About Corsair Gaming

(Get Rating)

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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Analyst Recommendations for Corsair Gaming (NASDAQ:CRSR)

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