Corsair Gaming (NASDAQ:CRSR) Stock Rating Reaffirmed by Wedbush

Corsair Gaming (NASDAQ:CRSR)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They currently have a $18.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 69.01% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Barclays dropped their target price on Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Stifel Nicolaus dropped their price target on shares of Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating on the stock in a research note on Wednesday, February 14th. Finally, Robert W. Baird lowered their target price on Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.83.

Corsair Gaming Trading Down 9.4 %

Shares of NASDAQ CRSR traded down $1.11 on Wednesday, reaching $10.65. 412,194 shares of the company traded hands, compared to its average volume of 348,101. The company has a 50 day moving average of $11.93 and a 200 day moving average of $12.83. 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 fifty-two week low of $10.31 and a fifty-two week high of $20.72. The stock has a market capitalization of $1.11 billion, a PE ratio of 353.78 and a beta of 1.61.

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

Institutional Investors Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its position 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 buying an additional 678,017 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Corsair Gaming by 23.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock valued at $23,040,000 after acquiring an additional 305,602 shares during the last quarter. Palisade Capital Management LP raised 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 worth $20,150,000 after purchasing an additional 230,390 shares during the period. Vanguard Group Inc. grew its holdings in shares of Corsair Gaming by 2.8% during the third quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock worth $78,884,000 after buying an additional 149,947 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Corsair Gaming during the 1st quarter worth approximately $1,318,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

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.