Corsair Gaming (NASDAQ:CRSR) Raised to “Buy” at Zacks Investment Research

Corsair Gaming (NASDAQ:CRSR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The brokerage presently has a $37.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.53% from the company’s current price.

According to Zacks, “Corsair Gaming, Inc. designs, markets and distributes gaming and streaming peripherals, components and systems principally in the United States and internationally. Corsair Gaming, Inc. is based in Fremont, California. “

CRSR has been the subject of a number of other reports. DA Davidson increased their target price on Corsair Gaming from $33.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 10th. Barclays lifted their target price on shares of Corsair Gaming from $45.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, February 10th. Wedbush lifted their price target on shares of Corsair Gaming from $49.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. The Goldman Sachs Group cut shares of Corsair Gaming from a “buy” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $44.00 in a report on Wednesday, February 10th. Finally, Credit Suisse Group upped their price target on shares of Corsair Gaming from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $44.30.

Shares of NASDAQ CRSR opened at $32.59 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $33.22 and a 200 day moving average of $34.96. Corsair Gaming has a 12-month low of $14.09 and a 12-month high of $51.37.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Tuesday, May 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.25. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $453.27 million. During the same quarter last year, the company earned $0.13 earnings per share. Corsair Gaming’s quarterly revenue was up 201.0% compared to the same quarter last year. As a group, research analysts forecast that Corsair Gaming will post 1.38 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRSR. Schonfeld Strategic Advisors LLC acquired a new stake in Corsair Gaming in the third quarter worth about $1,643,000. Axel Capital Management LLC bought a new position in shares of Corsair Gaming during the fourth quarter worth about $1,268,000. TRUE Private Wealth Advisors acquired a new stake in shares of Corsair Gaming in the fourth quarter valued at approximately $82,000. MADDEN SECURITIES Corp acquired a new stake in Corsair Gaming in the 4th quarter valued at $1,829,000. Finally, Exchange Traded Concepts LLC bought a new stake in Corsair Gaming during the fourth quarter worth about $3,738,000. Institutional investors and hedge funds own 13.32% of the company’s stock.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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