3 Catalysts That Could Send Corsair Gaming Stock Higher
Corsair Gaming (NASDAQ: CRSR) certainly picked a good year to have an initial public offering. Business was booming during the pandemic, with revenue up 55% in 2020. The stock initially tripled from its September IPO price but is currently 30% off its 52-week high of $51.37.
Investors are skeptical about Corsair's ability to maintain the pandemic-driven sales momentum, but Corsair is an interesting case in that it was already enjoying growth before the pandemic, and management is guiding for more growth in 2021 after a strong first-quarter earnings report.
The stock appears priced for further appreciation if Corsair delivers on management's guidance, trading at a forward price-to-earnings (P/E) ratio of 19.7. Let's look at three catalysts that could send the stock higher.
Source Fool.com
