Last Updated: 14 Nov 2024
Executive Summary
Corsair Gaming Inc. (CRSR) is a leading designer, marketer, and distributor of gaming and broadcast peripherals, components, and systems. Despite facing macroeconomic headwinds, the company has shown resilience and potential for long-term growth. With a current stock price of $6.9, CRSR is trading below its analyst target price of $8.86.
Company Overview
Corsair Gaming operates globally, with a focus on the gaming and content creation markets. The company offers a wide range of products, including keyboards, mice, headsets, power supplies, and cases. Corsair has a strong brand reputation and a loyal customer base.
Fundamental Analysis
Corsair Gaming's financial performance has been mixed in recent quarters. Revenue has declined slightly year-over-year due to economic uncertainty and supply chain disruptions. However, the company has maintained profitability, with an EBITDA of $7 million in the latest quarter.
Key financial metrics include:
Revenue: $1.32 billion TTM
Gross Profit: $296.6 million TTM
Diluted EPS: -$0.38 TTM
Book Value: $5.72
Technical Analysis
From a technical perspective, CRSR is currently trading below its 50-day and 200-day moving averages. The stock has been in a downtrend since mid-2022. However, there are signs that the trend may be reversing, with the stock showing some positive momentum in recent weeks.
Short Term Outlook
In the short term, CRSR may face continued volatility due to macroeconomic factors. However, the company's strong brand and product portfolio should provide some support. Analysts expect CRSR to report a loss in the upcoming quarter but show signs of improvement in the second half of 2023.
Long Term Outlook
Corsair Gaming has a strong long-term outlook. The gaming industry is expected to continue growing, and the company is well-positioned to benefit from this trend. Corsair's focus on innovation and customer satisfaction should drive future growth.
Analyst Recommendations
Analysts have a mixed view on CRSR. Two analysts have a "Strong Buy" rating, two have a "Buy" rating, and three have a "Hold" rating. The average analyst target price is $8.86, which implies a potential upside of over 27% from the current price.
