Corsair Gaming (NASDAQ:CRSR) Price Target Cut to $14.00

Corsair Gaming (NASDAQ:CRSR) had its target price reduced by Barclays from $17.00 to $14.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Robert W. Baird reduced their price target on shares of Corsair Gaming from $14.00 to $10.00 and set a neutral rating on the stock in a research report on Friday, July 19th. Finally, Wedbush restated an outperform rating and issued a $18.00 price target on shares of Corsair Gaming in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Corsair Gaming has a consensus rating of Moderate Buy and a consensus target price of $11.83.

Corsair Gaming Stock Performance

NASDAQ CRSR traded up $0.23 during midday trading on Friday, hitting $6.26. The company had a trading volume of 836,728 shares, compared to its average volume of 420,566. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market cap of $650.45 million, a price-to-earnings ratio of -75.31 and a beta of 1.60. The firm has a fifty day simple moving average of $10.16 and a two-hundred day simple moving average of $11.48. Corsair Gaming has a fifty-two week low of $5.62 and a fifty-two week high of $16.73.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Thursday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $261.30 million for the quarter, compared to analyst estimates of $290.30 million. During the same quarter last year, the firm posted $0.03 earnings per share. Corsair Gaming’s revenue was down 19.7% on a year-over-year basis. Equities analysts forecast that Corsair Gaming will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

A number of institutional investors have recently modified their holdings of CRSR. Price T Rowe Associates Inc. MD raised its stake in shares of Corsair Gaming by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock worth $250,000 after buying an additional 1,348 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Corsair Gaming by 6.6% during the fourth quarter. Vontobel Holding Ltd. now owns 25,897 shares of the company’s stock worth $365,000 after buying an additional 1,612 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Corsair Gaming by 8.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,931 shares of the company’s stock worth $366,000 after buying an additional 1,931 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in shares of Corsair Gaming by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock worth $336,000 after buying an additional 2,250 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Corsair Gaming by 2.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,534 shares of the company’s stock worth $1,319,000 after buying an additional 2,464 shares during the last quarter. 25.66% of the stock is owned by 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.