Corsair Gaming (NASDAQ:CRSR) Price Target Lowered to $9.00 at TD Cowen

Corsair Gaming (NASDAQ:CRSR) had its price objective lowered by TD Cowen from $10.00 to $9.00 in a report published on Thursday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Several other equities research analysts have also recently weighed in on CRSR. Stifel Nicolaus reduced their price objective on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group reduced their target price on Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays decreased their target price on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday. Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of Corsair Gaming in a research report on Tuesday. Finally, Robert W. Baird dropped their price objective on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.14.

Corsair Gaming Price Performance

Shares of CRSR traded down $0.31 during mid-day trading on Thursday, hitting $6.54. The company’s stock had a trading volume of 869,941 shares, compared to its average volume of 449,739. The firm has a 50-day moving average price of $6.60 and a 200 day moving average price of $8.66. The stock has a market capitalization of $681.14 million, a price-to-earnings ratio of -17.68 and a beta of 1.59. Corsair Gaming has a fifty-two week low of $5.59 and a fifty-two week high of $15.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.80 and a quick ratio of 0.97.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.36) earnings per share for the quarter. The company had revenue of $304.20 million during the quarter, compared to analyst estimates of $305.03 million. Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. On average, research analysts predict that Corsair Gaming will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Corsair Gaming by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock valued at $67,686,000 after acquiring an additional 64,373 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Corsair Gaming by 7.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,180,426 shares of the company’s stock valued at $24,072,000 after acquiring an additional 153,036 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Corsair Gaming by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock worth $13,830,000 after buying an additional 41,832 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Corsair Gaming by 12.2% in the second quarter. Renaissance Technologies LLC now owns 418,033 shares of the company’s stock valued at $4,615,000 after purchasing an additional 45,400 shares during the period. Finally, Rhumbline Advisers grew its position in Corsair Gaming by 11.6% during the second quarter. Rhumbline Advisers now owns 134,322 shares of the company’s stock worth $1,483,000 after buying an additional 13,940 shares in the last quarter. 25.66% of the stock is owned by institutional investors.

About Corsair Gaming

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.