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

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

Other analysts have also recently issued research reports about the stock. Barclays lowered their price objective on shares of Corsair Gaming from $17.00 to $14.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Wedbush lowered their price objective on shares of Corsair Gaming from $13.00 to $11.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus lowered their price objective 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. Finally, The Goldman Sachs Group lowered their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Corsair Gaming currently has a consensus rating of Moderate Buy and an average price target of $10.60.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $7.02 on Wednesday. Corsair Gaming has a 1 year low of $5.59 and a 1 year 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. The stock has a market capitalization of $731.13 million, a PE ratio of -87.75 and a beta of 1.58. The company’s 50 day simple moving average is $6.75 and its two-hundred day simple moving average is $9.70.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Thursday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $290.30 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. Analysts predict that Corsair Gaming will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

A number of large investors have recently added to or reduced their stakes in CRSR. Dimensional Fund Advisors LP raised its position in Corsair Gaming by 23.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock worth $23,040,000 after purchasing an additional 305,602 shares during the period. Capstone Investment Advisors LLC purchased a new position in Corsair Gaming in the 4th quarter worth $352,000. Palisade Capital Management LP grew its holdings in Corsair Gaming by 19.2% in the 4th quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock worth $20,150,000 after acquiring an additional 230,390 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Corsair Gaming by 16.4% in the 1st quarter. Principal Financial Group Inc. now owns 260,955 shares of the company’s stock worth $3,220,000 after acquiring an additional 36,714 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Corsair Gaming in the 1st quarter worth $1,318,000. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.