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

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

Several other equities analysts have also commented on CRSR. Wedbush reissued an outperform rating and set a $18.00 price objective on shares of Corsair Gaming in a research report on Wednesday, May 8th. Robert W. Baird lowered their price objective on Corsair Gaming from $14.00 to $10.00 and set a neutral rating for the company in a research report on Friday, July 19th. Finally, Stifel Nicolaus lowered 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. Three 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.com, the stock currently has an average rating of Moderate Buy and an average target price of $11.83.

Corsair Gaming Trading Up 3.8 %

Shares of Corsair Gaming stock traded up $0.23 on Friday, hitting $6.26. The stock 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. Corsair Gaming has a one year low of $5.62 and a one year high of $16.73. 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 stock’s 50-day simple moving average is $10.16 and its two-hundred day simple moving average is $11.48.

Corsair Gaming (NASDAQ:CRSR) last issued 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). The firm had revenue of $261.30 million during the quarter, compared to the consensus estimate of $290.30 million. Corsair Gaming had a positive return on equity of 2.15% and a negative net margin of 2.83%. The firm’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, sell-side analysts predict that Corsair Gaming will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Corsair Gaming

Large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its stake in shares of Corsair Gaming by 94.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,395,985 shares of the company’s stock valued at $19,683,000 after purchasing an additional 678,017 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Corsair Gaming by 23.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock valued at $23,040,000 after purchasing an additional 305,602 shares during the period. Palisade Capital Management LP grew its stake in shares of Corsair Gaming by 19.2% during the 4th quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock valued at $20,150,000 after purchasing an additional 230,390 shares during the period. Vanguard Group Inc. grew its stake in shares of Corsair Gaming by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock valued at $78,884,000 after purchasing an additional 149,947 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Corsair Gaming during the 1st quarter valued at about $1,318,000. 25.66% of the stock is currently 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.