One of the biggest names in PC gaming, Corsair Gaming (NASDAQ:CRSR) sits around $5.40 as of February 23, down 20% over the past week after giving back much of a post-earnings surge. On the other hand, Reddit sentiment has held at a weekly average score of 85.33 out of 100, firmly bullish, even as the stock pulls back.
The Margin Gap Is the Whole Story
As for Corsair’s numbers, Q4 revenue came in at $436.9 million, with non-GAAP EPS of $0.43, well ahead of the $0.2778 analyst estimate. For the full year, gross profit reached $426 million, a number that is up 30% year over year, on revenue of $1.47 billion. In addition, revenue grew 12%, while gross profit grew 30%. CEO Thi La framed 2026 explicitly around margin quality: “We are prioritizing growth in higher margin gaming, sim racing, and creator categories and ecosystem platforms.”
A major highlight for the company was the announcement of its first-ever $50 million share repurchase program. It also introduced full-year 2026 adjusted EBITDA guidance of $100 million to $115 million, which comes alongside a projected ~5% revenue decline from semiconductor headwinds in components, while peripherals, including Elgato and Fanatec, are expected to deliver double-digit growth.
Why Reddit Is Paying Attention
I just went all in on CRSR after 5 years of pain
by u/Eluktronics in wallstreetbets
The most-engaged post this week came from the CEO of Eluktronics, a gaming laptop manufacturer, who added roughly $500,000 to an initial $35,000 stake after holding at a loss for five years. The post drew 139 upvotes and 127 comments. His supply-chain thesis, built on 15 years of procurement experience, centers on Crucial (Micron’s consumer memory brand) exiting retail and leaving Corsair as one of the only major module vendors consistently stocked at Amazon, Best Buy, and Micro Center. He writes: “This memory environment feels distorted in a way I have not experienced before, and Corsair appears to have positioned itself better than most other competitors.”
Three concrete pillars support the bull case:
- 32GB SODIMMs have risen from roughly $75 to over $315, a 4x increase that benefits vendors holding pre-bought inventory.
- The peripheral segment is expected to grow double digits in 2026, carrying margins well above components.
- CEO Thi La purchased 50,000 shares, and a long-tenured board member bought 100,000 shares, the first meaningful insider buying since the IPO.
The big takeaways for Corsair right now are that the stock trades at 0.39x trailing sales, while the analyst consensus 12-month price target is $8.50, with no sell ratings. Management also cited the GTA VI launch in Q4 2026 as a demand driver for Scuf controllers and Elgato capture cards, giving the product cycle ahead more substance than it has had in years.
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