Corsair Gaming Inc (NASDAQ:CRSR) price on Friday, June 13, fall -4.13% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.05.
A look at the stock’s price movement, the close in the last trading session was $9.44. Turning to its 52-week performance, $13.02 and $5.59 were the 52-week high and 52-week low respectively. Overall, CRSR moved 3.55% over the past month.
Corsair Gaming Inc’s market cap currently stands at around $957.68 million, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 312.38M for the company’s revenue for the quarter, with a low and high estimate of 293.2M and 332.84M respectively. The average forecast suggests up to a 19.55% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.48B, representing a 12.23% jump on that reported in the last financial year.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend CRSR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRSR’s current price about 1.04% and 16.24% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.05, while 7-day volatility ratio is 2.56% and 2.85% in the 30-day chart. Further, Corsair Gaming Inc (CRSR) has a beta value of 1.78, and an average true range (ATR) of 0.42. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $10 and high of $10. Looking at the price targets, the low is -10.5% off current price level while to achieve the yearly target high, price needs to move -10.5%. Nonetheless, investors will most likely welcome a -10.5% jump to $10 which is the analysts’ median price.
If we refocus on Corsair Gaming Inc (NASDAQ:CRSR), historical trading data shows that trading volumes averaged 914.23K over the past 3 months. The company’s latest data on shares outstanding shows there are 104.76 million shares.
The 57.47% of Corsair Gaming Inc’s shares are in the hands of company insiders while institutional holders own 36.26% of the company’s shares. Current price change has pushed the stock 36.91% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRSR stock continues to rise going into the next quarter.
