Corsair Gaming, Inc. (NASDAQ:CRSR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.14.

CRSR has been the topic of several recent analyst reports. Robert W. Baird raised their price objective on Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays raised their price objective on Corsair Gaming from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Wedbush restated an “outperform” rating and set a $12.00 price objective (up from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $10.90 on Wednesday. The company has a fifty day simple moving average of $9.74 and a 200 day simple moving average of $7.84. Corsair Gaming has a 12-month low of $5.59 and a 12-month high of $13.02. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.14 billion, a P/E ratio of -11.47 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. Sell-side analysts predict that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

A number of hedge funds have recently made changes to their positions in CRSR. Massachusetts Financial Services Co. MA raised its stake in shares of Corsair Gaming by 85.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock worth $28,104,000 after purchasing an additional 1,857,532 shares during the period. Alyeska Investment Group L.P. purchased a new position in Corsair Gaming during the 4th quarter valued at about $1,503,000. New York State Common Retirement Fund grew its holdings in Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after buying an additional 212,792 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Corsair Gaming during the 3rd quarter valued at about $1,094,000. Finally, Vanguard Group Inc. grew its holdings in Corsair Gaming by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock valued at $38,426,000 after buying an additional 148,674 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors.

About Corsair Gaming

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.