Corsair Gaming, Inc. (NASDAQ:CRSR) Receives $9.29 Average PT from Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.2857.

A number of equities analysts recently issued reports on CRSR shares. Barclays lowered their price target on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research report on Thursday, November 13th. Wedbush lowered their target price on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Craig Hallum set a $10.00 price target on Corsair Gaming in a research note on Wednesday, November 5th. Finally, Macquarie lowered their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th.

Corsair Gaming Stock Performance

Shares of Corsair Gaming stock opened at $5.50 on Monday. The firm’s fifty day simple moving average is $7.84 and its 200-day simple moving average is $8.56. Corsair Gaming has a 12 month low of $5.43 and a 12 month high of $13.02. The stock has a market capitalization of $586.14 million, a price-to-earnings ratio of -16.18 and a beta of 1.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The business had revenue of $345.76 million for the quarter, compared to analyst estimates of $354.04 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. Corsair Gaming has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Corsair Gaming will post 0.22 earnings per share for the current year.

Insider Activity at Corsair Gaming

In other news, Director Samuel R. Szteinbaum bought 100,000 shares of the stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $6.59 per share, with a total value of $659,000.00. Following the completion of the acquisition, the director directly owned 420,267 shares in the company, valued at approximately $2,769,559.53. The trade was a 31.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 58.38% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

A number of hedge funds have recently added to or reduced their stakes in CRSR. Jump Financial LLC boosted its stake in shares of Corsair Gaming by 124.4% during the 1st quarter. Jump Financial LLC now owns 102,690 shares of the company’s stock worth $910,000 after acquiring an additional 56,921 shares in the last quarter. American Century Companies Inc. purchased a new position in Corsair Gaming in the 1st quarter valued at approximately $354,000. Goldman Sachs Group Inc. raised its holdings in Corsair Gaming by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock worth $3,985,000 after purchasing an additional 204,351 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Corsair Gaming during the first quarter worth $7,772,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Corsair Gaming by 9.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 437,327 shares of the company’s stock worth $3,875,000 after purchasing an additional 39,526 shares in the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

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.