Corsair Gaming (NASDAQ:CRSR) PT Lowered to $11.00

Corsair Gaming (NASDAQ:CRSR) had its price objective lowered by Wedbush from $13.00 to $11.00 in a research report report published on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on CRSR. Stifel Nicolaus decreased their target price on Corsair Gaming from $16.00 to $11.00 and set a buy rating on the stock in a report on Monday, July 22nd. Barclays lowered their price target on shares of Corsair Gaming from $17.00 to $14.00 and set an overweight rating on the stock in a report on Friday. Finally, Robert W. Baird lowered their price target on Corsair Gaming from $14.00 to $10.00 and set a neutral rating on the stock in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Corsair Gaming presently has a consensus rating of Moderate Buy and a consensus price target of $11.83.

Corsair Gaming Stock Performance

Shares of CRSR stock traded down $0.38 during trading hours on Friday, reaching $6.03. The company had a trading volume of 1,687,118 shares, compared to its average volume of 417,771. Corsair Gaming has a one year low of $5.62 and a one year high of $16.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82. The business has a fifty day moving average price of $10.27 and a 200-day moving average price of $11.53. The firm has a market cap of $626.55 million, a PE ratio of -80.13 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Thursday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.15%. The firm had revenue of $261.30 million during the quarter, compared to the consensus estimate of $290.30 million. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue was down 19.7% compared to the same quarter last year. Sell-side analysts predict that Corsair Gaming will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently added to or reduced their stakes in CRSR. Price T Rowe Associates Inc. MD lifted its holdings in shares of Corsair Gaming by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after buying an additional 1,348 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Corsair Gaming by 6.6% during the 4th quarter. Vontobel Holding Ltd. now owns 25,897 shares of the company’s stock valued at $365,000 after purchasing an additional 1,612 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Corsair Gaming by 8.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 25,931 shares of the company’s stock valued at $366,000 after purchasing an additional 1,931 shares during the period. Capstone Investment Advisors LLC grew its position in Corsair Gaming by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock valued at $336,000 after buying an additional 2,250 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Corsair Gaming by 2.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,534 shares of the company’s stock worth $1,319,000 after acquiring an additional 2,464 shares during the period. 25.66% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.