Corsair Gaming (NASDAQ:CRSR) Trading 5.8% Higher – What’s Next?

Corsair Gaming, Inc. (NASDAQ:CRSR)’s share price traded up 5.8% during trading on Monday . The stock traded as high as $6.04 and last traded at $6.02. 981,895 shares changed hands during trading, a decline of 9% from the average session volume of 1,077,553 shares. The stock had previously closed at $5.69.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $7.00 target price on shares of Corsair Gaming in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Robert W. Baird set a $6.00 price target on Corsair Gaming in a research report on Friday, February 13th. Barclays lowered their price target on Corsair Gaming from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.71.

Corsair Gaming Trading Up 1.5%

The company has a market capitalization of $663.96 million, a price-to-earnings ratio of -47.96 and a beta of 1.49. The company has a 50-day moving average price of $5.57 and a 200-day moving average price of $6.24. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. The company had revenue of $436.86 million for the quarter, compared to the consensus estimate of $422.66 million. Corsair Gaming had a positive return on equity of 6.71% and a negative net margin of 0.87%.The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Research analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Corsair Gaming by 4.0% during the third quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock worth $61,697,000 after purchasing an additional 269,193 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after purchasing an additional 401,171 shares during the period. Dimensional Fund Advisors LP lifted its stake in Corsair Gaming by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock worth $24,833,000 after purchasing an additional 98,588 shares during the period. State Street Corp increased its holdings in shares of Corsair Gaming by 2.1% during the fourth quarter. State Street Corp now owns 1,725,659 shares of the company’s stock worth $10,250,000 after buying an additional 35,301 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Corsair Gaming by 144.4% during the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after buying an additional 786,049 shares in the last quarter. Institutional investors own 25.66% of the company’s stock.

About Corsair Gaming

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.