Corsair has good upside with potential for a breakout
I am not an analyst or an expert, just a guy who looks at companies he likes subjectively, then looks at the technicals (to the best of my ability) objectively to predict future trends.
At this point in time, CRSR looks attractive. It has dropped from its $51 down to $32 and has bounced an slightly upward channel.
There is also a wedge forming on the daily chart, with higher lows from the channel supporting the bottom end of the wedge.
Using finviz, CRSR has a PEG ratio of .79, a forward PE of 29 (current PE is 51 today) and a P/S of 2.5
The current price is $36 as of writing, and has an average target price of $40 on tipranks (11% upside to AVERAGE PT)
LOGI, which operates the gaming and computer periphery space as well, reported better than expected earnings with great growth in it's keyboards and mice (products CRSR also specializes in). LOGI smashed their earnings, and I think CRSR will too.
Even doing a google trends search of "corsair gaming" yields a strong uptrend in popularity that may not be fully priced into the stock. Their most recent holiday season saw RECORD searches.
What do you think of my analysis? I would love to hear feedback, agreements / disagreements and why.
At this point in time, CRSR looks attractive. It has dropped from its $51 down to $32 and has bounced an slightly upward channel.
There is also a wedge forming on the daily chart, with higher lows from the channel supporting the bottom end of the wedge.
Using finviz, CRSR has a PEG ratio of .79, a forward PE of 29 (current PE is 51 today) and a P/S of 2.5
The current price is $36 as of writing, and has an average target price of $40 on tipranks (11% upside to AVERAGE PT)
LOGI, which operates the gaming and computer periphery space as well, reported better than expected earnings with great growth in it's keyboards and mice (products CRSR also specializes in). LOGI smashed their earnings, and I think CRSR will too.
Even doing a google trends search of "corsair gaming" yields a strong uptrend in popularity that may not be fully priced into the stock. Their most recent holiday season saw RECORD searches.
What do you think of my analysis? I would love to hear feedback, agreements / disagreements and why.
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