Wedbush Reaffirms “Outperform” Rating for Corsair Gaming (NASDAQ:CRSR)

Wedbush restated their outperform rating on shares of Corsair Gaming (NASDAQ:CRSR) in a report issued on Tuesday,RTT News reports. The firm currently has a $11.00 price target on the stock.

Several other equities analysts have also commented on the stock. Robert W. Baird dropped their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. The Goldman Sachs Group reduced their target price on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays decreased their target price on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, 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 note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Corsair Gaming presently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

Corsair Gaming Stock Down 4.5 %

CRSR stock opened at $6.54 on Tuesday. The company’s 50 day moving average price is $6.60 and its 200 day moving average price is $8.66. The firm 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 quick ratio of 0.97 and a current ratio of 1.80.

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

Hedge Funds Weigh In On Corsair Gaming

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Corsair Gaming during the first quarter worth about $162,000. Capstone Investment Advisors LLC raised its position in Corsair Gaming by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock worth $336,000 after acquiring an additional 2,250 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Corsair Gaming in the first quarter valued at $1,318,000. Public Sector Pension Investment Board boosted its position in shares of Corsair Gaming by 7.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 96,014 shares of the company’s stock worth $1,060,000 after purchasing an additional 6,262 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Corsair Gaming by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 134,322 shares of the company’s stock valued at $1,483,000 after purchasing an additional 13,940 shares in the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

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.