Corsair Gaming, Inc.

In trading on Wednesday, computer peripherals shares were relative leaders, up on the day by about 4.1%. Leading the group were shares of Xerox Holdings, up about 13.2% and shares of Corsair Gaming up about 3.4% on the day.
Also showing relative strength are biotechnology shares, up on the day by about 3.5% as a group, led by Replimune Group, trading up by about 30.6% and Iovance Biotherapeutics, trading higher by about 29.9% on Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wednesday Sector Leaders: Computer Peripherals, Biotechnology Stocks

In trading on Friday, computer peripherals shares were relative laggards, down on the day by about 4.3%. Helping drag down the group were shares of Xerox Holdings, down about 16.6% and shares of Corsair Gaming off about 4% on the day.
Also lagging the market Friday are apparel stores shares, down on the day by about 3.5% as a group, led down by Ross Stores, trading lower by about 14.6% and Burlington Stores, trading lower by about 9.5%.
VIDEO: Friday Sector Laggards: Computer Peripherals, Apparel Stores
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Friday Sector Laggards: Computer Peripherals, Apparel Stores

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Corsair Gaming Inc (Symbol: CRSR), where a total volume of 8,067 contracts has been traded thus far today, a contract volume which is representative of approximately 806,700 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 67.8% of CRSR's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $7.50 strike call option expiring May 16, 2025, with 4,008 contracts trading so far today, representing approximately 400,800 underlying shares of CRSR. Below is a chart showing CRSR's trailing twelve month trading history, with the $7.50 strike highlighted in orange:
Madrigal Pharmaceuticals Inc (Symbol: MDGL) options are showing a volume of 2,347 contracts thus far today. That number of contracts represents approximately 234,700 underlying shares, working out to a sizeable 65.5% of MDGL's average daily trading volume over the past month, of 358,460 shares. Especially high volume was seen for the $350 strike call option expiring June 20, 2025, with 1,036 contracts trading so far today, representing approximately 103,600 underlying shares of MDGL. Below is a chart showing MDGL's trailing twelve month trading history, with the $350 strike highlighted in orange:
And Confluent Inc (Symbol: CFLT) options are showing a volume of 33,110 contracts thus far today. That number of contracts represents approximately 3.3 million underlying shares, working out to a sizeable 64.7% of CFLT's average daily trading volume over the past month, of 5.1 million shares. Particularly high volume was seen for the $25 strike call option expiring August 15, 2025, with 10,054 contracts trading so far today, representing approximately 1.0 million underlying shares of CFLT. Below is a chart showing CFLT's trailing twelve month trading history, with the $25 strike highlighted in orange:
For the various different available expirations for CRSR options, MDGL options, or CFLT options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Thursday Option Activity: CRSR, MDGL, CFLT

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Corsair Gaming Inc (Symbol: CRSR), where a total volume of 14,223 contracts has been traded thus far today, a contract volume which is representative of approximately 1.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 119.6% of CRSR's average daily trading volume over the past month, of 1.2 million shares. Especially high volume was seen for the $10 strike call option expiring February 21, 2025, with 2,620 contracts trading so far today, representing approximately 262,000 underlying shares of CRSR. Below is a chart showing CRSR's trailing twelve month trading history, with the $10 strike highlighted in orange:
Twilio Inc (Symbol: TWLO) saw options trading volume of 44,401 contracts, representing approximately 4.4 million underlying shares or approximately 111.9% of TWLO's average daily trading volume over the past month, of 4.0 million shares. Especially high volume was seen for the $150 strike call option expiring February 14, 2025, with 2,428 contracts trading so far today, representing approximately 242,800 underlying shares of TWLO. Below is a chart showing TWLO's trailing twelve month trading history, with the $150 strike highlighted in orange:
And United Natural Foods Inc. (Symbol: UNFI) saw options trading volume of 5,852 contracts, representing approximately 585,200 underlying shares or approximately 109.5% of UNFI's average daily trading volume over the past month, of 534,440 shares. Especially high volume was seen for the $36 strike call option expiring February 21, 2025, with 3,039 contracts trading so far today, representing approximately 303,900 underlying shares of UNFI. Below is a chart showing UNFI's trailing twelve month trading history, with the $36 strike highlighted in orange:
For the various different available expirations for CRSR options, TWLO options, or UNFI options, visit StockOptionsChannel.com.
Also see:
Top Stocks Held By Prem Watsa
Institutional Holders of VNOD
Institutional Holders of USFD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Thursday Option Activity: CRSR, TWLO, UNFI

In trading on Thursday, computer peripherals shares were relative leaders, up on the day by about 4.1%. Leading the group were shares of Corsair Gaming, up about 19.3% and shares of Seagate Technology Holdings up about 1.8% on the day.
Also showing relative strength are publishing shares, up on the day by about 2.5% as a group, led by Quad/Graphics, trading higher by about 16.6% and Scholastic, trading higher by about 4.2% on Thursday.
VIDEO: Thursday Sector Leaders: Computer Peripherals, Publishing Stocks
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Thursday Sector Leaders: Computer Peripherals, Publishing Stocks

In trading on Friday, computer peripherals shares were relative laggards, down on the day by about 5.3%. Helping drag down the group were shares of Lantronix, off about 24.8% and shares of Corsair Gaming down about 4.4% on the day.
Also lagging the market Friday are general contractors & builders shares, down on the day by about 3.3% as a group, led down by Toll Brothers, trading lower by about 5% and KB Home, trading lower by about 4.8%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Friday Sector Laggards: Computer Peripherals, General Contractors & Builders

Logitech LOGI shares have plunged 13.3% in the past six months, underperforming the Zacks Computer Technology sector and the S&P 500’s return of 14.7% and 14.1%, respectively. LOGI also underperformed the Zacks Computer - Peripheral Equipment industry’s decline of 13.2% in the past six months.
Given Logitech’s position as one of the established players in the computer peripheral market, this underperformance is disappointing. This raises a crucial question for investors: Is it the right time to buy or sell LOGI stock?
LOGI Faces Competitive and Economic Pressures
Logitech has been a recipient of the challenges posed by the weakening global economy amid ongoing macroeconomic uncertainties and geopolitical issues. These factors have affected consumer spending leading to lower consumption of consumer electronics, negatively impacting Logitech’s top line throughout the fiscal 2024.
LOGI is also facing headwinds from the growing popularity of smaller and mobile computing devices with touch interfaces, which is diminishing the demand for desktop PCs — Logitech's primary market for peripheral products.
The market where Logitech operates is highly competitive and characterized by short product life cycles. The peripheral market is also treaded with multiple competitors including Bose, Sony Group SONY, Apple AAPL, Corsair CRSR, Microsoft, Philips, HP, Dell, Cisco and many more.
HP and Dell produce pointing devices, keyboards and other peripheral equipment like Logitech. Sony, Bose and Corsair have their impressive lineup of headsets and Cisco competes with Logitech in the webcam market. These brands constantly launch new products, rapidly change technology per the evolving customer demands, and promote through aggressive promotional and pricing practices.
These factors also force Logitech to take in aggressive marketing tactics. Logitech’s marketing and selling costs have been on a rising trend for the past eight quarters.
Logitech 6 Month Performance
Image Source: Zacks Investment Research
Strong Portfolio and Partnerships Aid LOGI
All these challenges have not stopped Logitech from improving its revenues. LOGI’s revenues are on the path of recovery. Amid all the above headwinds, Logitech is navigating the computer peripheral market with innovative product launches. In the past year, Logitech has launched several innovative audio equipment that include EVERBOOM portable speaker with 360° sound, EPICBOOM Bluetooth speaker, Logitech G ASTRO A50 X LIGHTSPEED wireless headset, Zone Wireless 2 headsets for work and software like Streamline plugin for Loupedeck users.
Alongside its audio portfolio, LOGI has also enriched its consumer electronic portfolio, including gaming products and office work accessories. Logitech has stormed the gaming market with LIGHTSPEED Gaming Mouse, Logitech G515 next-generation gaming keyboard and PRO X 60 Gaming Keyboard.
So far this year, Logitech contributed to the webcam market with its AI-powered USB conference camera, MeetUp 2. Other webcams include MX Brio/MX Brio 705 for Business and Mevo Core 4K camera. With all these innovations in place, Logitech is expected to serve a wide customer base.
For the office electronic accessories market, LOGI launched the Casa Pop-Up Desk, Signature Slim K950, Slim Combo and Slim Combo for Business keyboards. Furthermore, Logitech dedicated an entire lineup of products for Apple’s Mac under the brand Logi for Mac products.
To gain market share among Apple users, Logitech has enhanced the compatibility of its product lineup with Mac OS and iPadOS. Logitech has launched dedicated macOS keyboards for the Apple ecosystem. LOGI’s portfolio for Mac users includes MX Anywhere 3S keyboards, MX Keys S, MX Keys S Combo, MX Keys Mini and Ergo Series Wave Keys.
In the past couple of years, LOGI has certified its peripherals to work seamlessly with Microsoft and Intel products. It gained certifications from these industry leaders for its peripherals.
Logitech has certified its Sight AI Camera from Microsoft Teams. LOGI also verified its mouse and keyboard for Intel Evo laptops that meet strict requirements for reliability, interoperability and security.
With all these innovative products in place, Logitech expects fiscal 2025 sales in the band of $4.39-$4.47 billion. The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $4.39 billion, indicating year-over-year growth of 3.11%.
The Zacks Consensus Estimate for LOGI’s fiscal 2025 earnings is pegged at $4.48, suggesting year-over-year growth of 7.8%.
What Should Investors Do?
Although Logitech faces stiff competition and macroeconomic challenges, the company is on the path of recovery on the back of its innovative products. LOGI is also fairly valued at present with Zacks’s Value Score of B.
Considering all these factors, we suggest investors to buy this Zacks Rank #2 (Buy) stock at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Logitech Falls 13% in 6 Months: Should You Hold or Fold the Stock?

The key strategy for maximizing long-term returns is to select companies with strong fundamentals and a thirst to innovate and grow. Growth stocks are shares of companies whose earnings are expected to grow at an above-average rate compared to others.
These businesses often operate in emerging industries, developing new products, services, or technologies that disrupt established markets. Here are two top growth stocks trading under $40 that investors can buy and hold for the long term to target significant capital gains.
Growth Stock No. 1: Palantir Technologies
Founded in 2003, Palantir Technologies (PLTR) operates in the data analytics industry. It began with a focus on government contracts, and has since expanded into the commercial sector, providing artificial intelligence (AI) data-driven solutions to a variety of industries.
Valued at $72.37 billion, PLTR stock has soared a whopping 86.6% year-to-date, outpacing the S&P 500 Index’s ($SPX) 17.2% gain on the rapid growth of its AI platform and strategic partnerships.
Palantir is well-known for its powerful data integration and analytics AI platforms, Gotham and Foundry. Gotham is primarily used by government agencies for intelligence and defense, whereas Foundry is designed to help commercial enterprises integrate, manage, and analyze massive amounts of data.
Palantir's close ties to government agencies, such as the U.S. Department of Defense and various other intelligence organizations globally, are one of its key strengths. These relationships provide a consistent revenue stream and a level of credibility that competitors struggle to match. In the second quarter, government sector revenue rose by 23% year on year, accounting for 54.7% of total revenue of $678 million. Total revenue increased by 27% year over year.
Following its earnings, the company announced a collaboration with tech giant Microsoft (MSFT). Both companies intend to provide the most “sophisticated and secure cloud, AI, and analytics capabilities to the U.S. Defense and Intelligence Community.”
The goal is to use Palantir's Artificial Intelligence Platform (AIP) and Microsoft's large language models (LLMs) through Azure AI to power Microsoft's government and classified cloud environments.
Despite the strength of its platform and strategic partnerships, Palantir operates in a fiercely competitive market. The company's reliance on the government sector as its primary clientele is risky.
As a result, on the commercial side, Palantir has made progress in industries such as healthcare, finance, and manufacturing, leveraging its technology to solve complex problems.
Commercial revenue increased 33% in the second quarter compared to the prior-year quarter. The company has over 300 commercial and strategic alliances with Oracle (ORCL), PwC, and others for AIP.
Palantir also reported record GAAP (generally accepted accounting principles) earnings of $0.06 per share, up from $0.01 in the prior-year quarter.
The company's balance sheet is strong, with $4 billion in cash, cash equivalents, and short-term US Treasury securities at the end of the second quarter. It also generated an adjusted positive free cash flow (FCF) of $149 million, and expects to generate FCF of $800 million to $1 billion by 2024. The company also plans to report a GAAP profit in the remaining quarters of 2024.
Like most high-growth tech stocks, Palantir stock's valuation has been a contentious issue among investors. It currently trades at 74 times forward 2025 earnings. Analysts that cover PLTR stock forecast a 42.1% increase in 2024 earnings, followed by an additional 21.8% increase in 2025. Analysts expect revenue to increase by 24% in 2024 and 20.6% in 2025, respectively.
Palantir Technologies is a fascinating company with enormous growth potential, particularly in the commercial sector. The company's ability to enter new markets and expand its presence among existing customers will be critical drivers of future growth.
What Does Wall Street Say About Palantir Stock?
Overall, Wall Street’s sentiment towards Palantir is mixed, with an average rating of "hold.” Of the 15 analysts who cover PLTR, three rate it as a "strong buy," one rates it as a "moderate buy," four recommend a "hold," one rates it as a “moderate sell,” and six suggest a “strong sell.”
Palantir has surpassed its mean price target of $23.73. Its high target price of $38 indicates an upside potential of 17.5% over the next 12 months.
Growth Stock No. 2: Corsair Gaming
Corsair Gaming (CRSR) is a well-known brand in the gaming and esports industries, producing high-performance hardware and peripherals. Corsair has established a brand that appeals to gamers and content creators, offering gaming PCs, components, and accessories as well as streaming gear.
Valued at $680.5 million, small-cap Corsair stock has fallen 55% YTD, compared to the broader market's gain.
In the second quarter, total revenue fell 19.7% to $261.3 million, with an adjusted net loss of $0.07 per share, compared to adjusted net income of $0.09 per share in Q2 2023. Management believes that inflation and high interest rates have hurt consumer purchases, which has reduced demand for the company's products.
Furthermore, a weaker-than-expected self-built PC market lowered revenue from the Gaming Components and Systems segment in the quarter.
Andy Paul, Corsair's CEO, believes the self-built PC market is due for a refresh, which could begin soon as Nvidia (NVDA) launches new GPUs (graphic processing units) in late 2024. Furthermore, the release of new highly anticipated games such as Call of Duty: Black Ops 6 in late 2024 and Grand Theft Auto VI in 2025 could potentially revive demand for its Gaming Components and Systems products.
According to Expert Market Research, the global gaming peripherals market is expected to grow at a compounded rate of 10.3% from 2024 to 2032, reaching $13 billion. Corsair's focus on high-performance products positions it well to capitalize on this trend.
In the second half of 2024, the company is focusing on controlling operating expenses to return to profitability. In 2024, it expects net revenue to range between $1.25 billion and $1.35 billion, with positive adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) ranging from $60 million to $75 million.
At the end of the second quarter, cash and restricted cash balances totaled $94.6 million, which management believes is sufficient to fund their expanding product portfolio.
Analysts also expect Corsair to report an adjusted profit of $0.32 per share in 2024, with earnings further rising by 89.9% to $0.61 in 2025. At 10 times forward 2025 earnings, the company seems relatively reasonable, compared to many growth-oriented tech stocks.
Corsair Gaming is a well-known player in the gaming hardware market, with a strong brand and a diverse product line. While the company is currently facing challenges from competition and market dynamics, its emphasis on quality, innovation, and profitability lays the groundwork for long-term growth once external headwinds subside.
What Does Wall Street Say About Corsair Stock?
Overall, Wall Street rates Corsair stock as a "moderate buy.” Of the seven analysts who cover CRSR, four rate it as a "strong buy," and three recommend a “hold.”
Its mean price target of $10.71 suggests the stock can rally 68.4% from current levels. CRSR's high target price of $14 indicates an upside of 120% over the next 12 months.
On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Outstanding Growth Stocks to Buy Under $40

The following are today's upgrades for Validea's Price/Sales Investor model based on the published strategy of Kenneth Fisher. This value strategy rewards stocks with low P/S ratios, long-term profit growth, strong free cash flow and consistent profit margins.
CORSAIR GAMING INC (CRSR) is a small-cap value stock in the Computer Hardware industry. The rating according to our strategy based on Kenneth Fisher changed from 50% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Corsair Gaming Inc. is a provider and innovator of high-performance products for gamers and digital creators such as streamers, vloggers, and broadcasters. The Company's personal computer (PC) components products offer its customers multiple options to build their customized gaming and workstation desktop PCs. The Company operates through two segments: Gamer and creator peripherals, and Gaming components and systems. The Gamer and creator peripherals segment include its high-performance gaming keyboards, mice, headsets, controllers, and streaming products, which includes capture cards, stream Decks, microphones, and audio interfaces, facecam streaming cameras, studio accessories and gaming furniture, among others. The Gaming components and systems segment Includes its high-performance power supply units (PSUs), cooling solutions, computer cases, and DRAM modules, as well as high-end prebuilt and custom-built gaming PCs and laptops, and gaming monitors, among others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of CORSAIR GAMING INC
CRSR Guru Analysis
CRSR Fundamental Analysis
Kenneth Fisher Portfolio
About Kenneth Fisher: The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. The younger Fisher wowed Wall Street in the mid-1980s when his book Super Stocks first popularized the idea of using the price/sales ratio (PSR) as a means of identifying attractive stocks. According to his alma mater, Humboldt State University, Fisher is also one of the world's foremost experts on 19th century logging. Appropriately, Fisher's firm, Fisher Investments, is located in a lush forest preserve in Woodside, California, where the contrarian-minded Fisher says he and his employees can get away from Wall Street groupthink.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea Kenneth Fisher Strategy Daily Upgrade Report - 7/24/2024

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR S&P 600 Small Cap Value ETF (Symbol: SLYV), we found that the implied analyst target price for the ETF based upon its underlying holdings is $92.10 per unit.
With SLYV trading at a recent price near $77.93 per unit, that means that analysts see 18.18% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SLYV's underlying holdings with notable upside to their analyst target prices are Vector Group Ltd (Symbol: VGR), Corsair Gaming Inc (Symbol: CRSR), and Hain Celestial Group Inc (Symbol: HAIN). Although VGR has traded at a recent price of $10.69/share, the average analyst target is 45.00% higher at $15.50/share. Similarly, CRSR has 44.76% upside from the recent share price of $11.25 if the average analyst target price of $16.29/share is reached, and analysts on average are expecting HAIN to reach a target price of $10.00/share, which is 41.84% above the recent price of $7.05. Below is a twelve month price history chart comparing the stock performance of VGR, CRSR, and HAIN:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
SPDR S&P 600 Small Cap Value ETF
SLYV
$77.93
$92.10
18.18%
Vector Group Ltd
VGR
$10.69
$15.50
45.00%
Corsair Gaming Inc
CRSR
$11.25
$16.29
44.76%
Hain Celestial Group Inc
HAIN
$7.05
$10.00
41.84%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.