Corsair Gaming (NASDAQ:CRSR) Receives Hold Rating from Craig Hallum

Corsair Gaming (NASDAQ:CRSR)‘s stock had its “hold” rating reiterated by research analysts at Craig Hallum in a note issued to investors on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. Craig Hallum’s price objective would suggest a potential downside of 17.63% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Wedbush upped their target price on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Barclays increased their target price on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 11th. B. Riley Financial raised their price objective on shares of Corsair Gaming from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Finally, Zacks Research lowered shares of Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.33.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $12.14 on Monday. The stock has a market cap of $1.30 billion, a P/E ratio of 151.77 and a beta of 1.82. The company’s 50-day simple moving average is $6.72 and its 200 day simple moving average is $6.13. Corsair Gaming has a twelve month low of $4.48 and a twelve month high of $13.10. The company has a quick ratio of 0.95, a current ratio of 1.74 and a debt-to-equity ratio of 0.18.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, research analysts forecast that Corsair Gaming will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Corsair Gaming by 149.5% during the 1st quarter. Bank of America Corp DE now owns 230,700 shares of the company’s stock worth $1,280,000 after acquiring an additional 138,242 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Corsair Gaming by 160.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock worth $686,000 after acquiring an additional 76,054 shares during the last quarter. Cetera Investment Advisers bought a new position in Corsair Gaming during the 1st quarter worth approximately $56,000. First Trust Advisors LP bought a new position in Corsair Gaming during the 1st quarter worth approximately $606,000. Finally, Principal Financial Group Inc. boosted its stake in Corsair Gaming by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock worth $1,266,000 after acquiring an additional 4,735 shares during the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Company Profile

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.