Reddit is going gaga over CRSR. And for a good reason - Its metrics show that it is one of the most overlooked stocks within tech, with valuations only seen in utility stocks.
Let’s take a look:
Corsair are at the forefront of the gaming PC revolution. They have been in the PC Components manufacturing business Since 1994. Their stock was just listed in October last year, all for a measly $15.
Their current market cap stands at 3.12B on 2.11B sales and 185m profit. That’s VALUE in itself, their current market cap is minuscule and should be at least 5x their revenue. This puts it at a 1.5x P/S and a ±15x P/E, which is fairly under the average for a tech business.
As per recent earnings article: “Major industry tailwinds seem to be helping Corsair achieve strong growth rates. In the first quarter, its overall revenue grew 72% year over year to $529 million. The company also continues to see improved profitability, as gross margin jumped from 25.5% a year ago to 30.3%.”
Growth aside, one of the major catalysts to this becoming a potential reddit rocket ship is its tiny share base of merely 90 million shares, of which only 88 million are in float.
What are your thoughts on $CRSR?