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

Corsair Gaming, Inc. (NASDAQ:CRSR) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $10.14.

Several research firms have recently issued reports on CRSR. Macquarie decreased their price target on Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and set a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a research report on Wednesday, February 5th. The Goldman Sachs Group dropped their price target on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Barclays boosted their price objective on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, TD Cowen lowered their target price on shares of Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Corsair Gaming by 85.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock worth $28,104,000 after acquiring an additional 1,857,532 shares during the period. New York State Common Retirement Fund raised its stake in shares of Corsair Gaming by 40.4% in the fourth quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after purchasing an additional 212,792 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Corsair Gaming in the third quarter worth $1,094,000. Vanguard Group Inc. boosted its stake in Corsair Gaming by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock worth $38,426,000 after buying an additional 148,674 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Corsair Gaming in the 4th quarter valued at $912,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Price Performance

Shares of CRSR opened at $12.42 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.58. The firm has a market cap of $1.30 billion, a PE ratio of -13.80 and a beta of 1.68. Corsair Gaming has a twelve month low of $5.59 and a twelve month high of $14.13. The firm’s 50 day moving average price is $8.05 and its 200 day moving average price is $7.21.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative net margin of 7.14% and a negative return on equity of 4.58%. As a group, research analysts expect that Corsair Gaming will post -0.38 EPS for the current fiscal year.

Corsair Gaming Company Profile

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.