The gaming hardware and PCc-components provider has benefitted from the red-hot pandemic-induced gaming sector. Sales of video games, prebuilt PCs and laptops, PC components and higher-margin streaming products helped propped up first-quarter earnings growth.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD’s unique RS Rating tracks market leadership by showing how a stock’s price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research reveals that the best stocks typically have an RS Rating north of 80 as they begin their biggest runs.
Is Corsair Gaming A Buy?
Amid a tech selloff, Corsair Gaming stock is currently in a distribution, trading just below its 50-day moving average. It’s now considered out of buy range after clearing a 22.60 buy point in a first-stage ipo base back when it first debut. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”
Earnings grew 383% last quarter, up from 194% in the prior report. Revenue also increased, from 70% to 72%.
The Fremont, Calif.-based company holds the No. 3 rank among its peers in the Computer-Hardware/Peripherals industry group. Logitech International (LOGI) and Corsair Gaming Inc (CRSR) are also among the group’s highest-rated stocks.
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