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

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

A number of other equities analysts have also weighed in on the stock. Barclays decreased their price objective on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Robert W. Baird dropped their price objective on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. The Goldman Sachs Group reduced their price objective on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Stifel Nicolaus lowered their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.17.

Corsair Gaming Stock Down 3.8 %

Shares of NASDAQ:CRSR opened at $6.85 on Tuesday. Corsair Gaming has a 12-month low of $5.59 and a 12-month high of $15.07. The stock has a market capitalization of $713.43 million, a price-to-earnings ratio of -18.59 and a beta of 1.59. The stock has a fifty day simple moving average of $6.60 and a two-hundred day simple moving average of $8.67. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

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

Institutional Investors Weigh In On Corsair Gaming

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Corsair Gaming by 995.8% in the third quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after buying an additional 4,312 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Corsair Gaming during the 3rd quarter worth $101,000. Squarepoint Ops LLC purchased a new stake in shares of Corsair Gaming in the 2nd quarter worth $121,000. Virtu Financial LLC bought a new position in Corsair Gaming in the 1st quarter worth $162,000. Finally, PEAK6 Investments LLC lifted its position in Corsair Gaming by 144.3% during the first quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after purchasing an additional 43,393 shares in the last quarter. 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.