Brokerages Set Corsair Gaming, Inc. (NASDAQ:CRSR) Target Price at $16.33

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $16.33.

A number of equities analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $21.00 price objective on shares of Corsair Gaming in a research report on Wednesday, February 7th. Robert W. Baird lowered their price target on shares of Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 15th. Barclays cut their price objective on Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Stifel Nicolaus lowered their target price on Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating for the company in a report on Wednesday, February 14th.

Hedge Funds Weigh In On Corsair Gaming

Several large investors have recently added to or reduced their stakes in CRSR. GSA Capital Partners LLP bought a new stake in Corsair Gaming during the first quarter worth $1,318,000. Capstone Investment Advisors LLC boosted its holdings in Corsair Gaming by 9.0% during the 1st 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 during the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 in the last quarter. Palisade Capital Management LP lifted its position in shares of Corsair Gaming by 19.2% during the fourth 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 94.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,395,985 shares of the company’s stock worth $19,683,000 after purchasing an additional 678,017 shares during the last quarter. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $11.61 on Wednesday. The firm’s 50 day simple moving average is $11.95 and its 200 day simple moving average is $12.84. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 387.13 and a beta of 1.61. The company has a current ratio of 1.70, a quick ratio of 1.13 and a debt-to-equity ratio of 0.27. Corsair Gaming has a 1 year low of $10.59 and a 1 year high of $20.72.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $417.29 million for the quarter, compared to analyst estimates of $435.57 million. Corsair Gaming had a return on equity of 5.13% and a net margin of 0.15%. As a group, research analysts expect that Corsair Gaming will post 0.43 earnings per share for the current fiscal year.

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.