Robert W. Baird Trims Corsair Gaming (NASDAQ:CRSR) Target Price to $8.00

Corsair Gaming (NASDAQ:CRSR) had its price target trimmed by Robert W. Baird from $10.00 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

CRSR has been the subject of a number of other reports. Barclays reduced their price objective on shares of Corsair Gaming from $17.00 to $14.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Wedbush reduced their target price on shares of Corsair Gaming from $13.00 to $11.00 and set an outperform rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on shares of Corsair Gaming from $13.00 to $9.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Finally, Stifel Nicolaus reduced their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a buy rating for the company in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corsair Gaming currently has a consensus rating of Moderate Buy and an average target price of $10.60.

Corsair Gaming Trading Up 5.2 %

Shares of CRSR stock opened at $7.02 on Wednesday. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $15.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.80. The company has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $9.70. The company has a market capitalization of $731.13 million, a price-to-earnings ratio of -87.75 and a beta of 1.58.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. 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 previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down 19.7% on a year-over-year basis. Research analysts anticipate that Corsair Gaming will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Algert Global LLC boosted its holdings in Corsair Gaming by 10.6% in the 2nd quarter. Algert Global LLC now owns 128,279 shares of the company’s stock worth $1,416,000 after buying an additional 12,297 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Corsair Gaming by 18.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company’s stock worth $273,000 after buying an additional 3,906 shares during the period. Squarepoint Ops LLC bought a new position in Corsair Gaming in the 2nd quarter worth approximately $121,000. Public Sector Pension Investment Board boosted its holdings in Corsair Gaming by 7.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 96,014 shares of the company’s stock worth $1,060,000 after buying an additional 6,262 shares during the period. Finally, Sei Investments Co. bought a new position in Corsair Gaming in the 2nd quarter worth approximately $496,000. 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.