Corsair Gaming Inc. (CRSR) has experienced a significant stock surge, rising from approximately $5.50 in mid-February to over $10 in recent weeks. This upward trend is attributed to investors responding positively to the company’s pivot into AI infrastructure, particularly with the May launch of the CORSAIR PRO line, highlighting a market shift toward in-house AI computing. The company is currently valued at $1 billion, with a forward P/E ratio of 14, and holds Zacks Style Scores of “B” in Value and “A” in Growth.
In Q1 2023, Corsair reported earnings per share (EPS) of $0.27, exceeding estimates by 50%, alongside revenues of $354.5 million. Adjusted EBITDA nearly tripled year-over-year to $35.8 million, and management reaffirmed full-year EPS guidance of $0.58 to $0.74 despite ongoing semiconductor challenges. Analysts have since revised EPS estimates upward, with the current consensus for the full year sitting at $0.73. Notable price targets from recent coverage include $15 from Roth Capital and $9 from B. Riley. Corsair is set to release its next earnings report on July 30.
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