Macquarie Cuts Corsair Gaming (NASDAQ:CRSR) Price Target to $9.00

Corsair Gaming (NASDAQ:CRSR) had its target price lowered by Macquarie from $11.00 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s price target would indicate a potential upside of 37.61% from the stock’s current price.

Several other research firms have also commented on CRSR. The Goldman Sachs Group lowered their price objective on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday. TD Cowen lowered their price target on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday. Robert W. Baird decreased their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Stifel Nicolaus lowered their price target on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Corsair Gaming in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.14.

Corsair Gaming Trading Down 4.5 %

Shares of NASDAQ:CRSR traded down $0.31 on Friday, hitting $6.54. The company had a trading volume of 874,036 shares, compared to its average volume of 448,793. Corsair Gaming has a 1 year low of $5.59 and a 1 year high of $15.07. The firm has a market capitalization of $681.14 million, a price-to-earnings ratio of -17.19 and a beta of 1.59. The firm’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $8.66. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.26.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.36) earnings per share (EPS) for the quarter. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. The business had revenue of $304.20 million for the quarter, compared to the consensus estimate of $305.03 million. Equities analysts anticipate that Corsair Gaming will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corsair Gaming by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after buying an additional 1,348 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Corsair Gaming by 18.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company’s stock valued at $273,000 after acquiring an additional 3,906 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Corsair Gaming by 995.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after acquiring an additional 4,312 shares during the period. Lebenthal Global Advisors LLC boosted its holdings in shares of Corsair Gaming by 16.2% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 39,508 shares of the company’s stock valued at $436,000 after purchasing an additional 5,508 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Corsair Gaming by 7.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 96,014 shares of the company’s stock valued at $1,060,000 after purchasing an additional 6,262 shares in the last quarter. 25.66% of the stock is 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.