CRSR has shed 28% in 2021
Corsair Gaming, Inc. (NASDAQ:CRSR) is an American computer hardware company that provides gear for gamers and content creators globally. Even though video games have been a staple in social-distancing measures the last 18 months, CRSR has been unable to take advantage on the charts. Does that mean investors should buy the dip, or look elsewhere?
Corsair Gaming stock is down 28% in 2021, with recent rallies contained by its descending 100-day moving average. The $25 level looks to be a floor, but a shift in analyst sentiment -- five of six in coverage maintain "strong buys" -- could pressure CRSR in coming months.
From a fundamental point of view, Corsair Gaming has strong potential as both a growth and value play. Corsair stock currently trades at an attractive price-earnings ratio of 16.35 and CRSR has a forward price-earnings ratio of 15.60, indicating an expected increase in earnings. In addition, CRSR have grown its revenues by a significant 115% and have increased their net income by more than $168 million since fiscal 2018. Overall, Corsair Gaming’s growth rate and valuation makes Corsair Gaming stock an intriguing option for long-term investors.