Corsair Gaming (NASDAQ:CRSR) Rating Reiterated by Wedbush

Corsair Gaming (NASDAQ:CRSR)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $18.00 price target on the stock. Wedbush’s target price suggests a potential upside of 69.01% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Robert W. Baird reduced their target price on shares of Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Stifel Nicolaus cut 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 report on Wednesday, February 14th. Finally, Barclays decreased their price objective on shares of Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Corsair Gaming Price Performance

CRSR traded down $1.11 during midday trading on Wednesday, hitting $10.65. The company had a trading volume of 412,194 shares, compared to its average volume of 348,101. Corsair Gaming has a twelve month low of $10.31 and a twelve month high of $20.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.13 and a current ratio of 1.70. The firm’s 50-day simple moving average is $11.93 and its 200-day simple moving average is $12.83. The company 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 announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $417.29 million during the quarter, compared to the consensus estimate of $435.57 million. Corsair Gaming had a net margin of 0.15% and a return on equity of 5.13%. Equities research analysts predict that Corsair Gaming will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several large investors have recently made changes to their positions in CRSR. Bank of New York Mellon Corp boosted its position in Corsair Gaming by 1.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,178,574 shares of the company’s stock worth $17,125,000 after acquiring an additional 21,744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Corsair Gaming by 2.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,070 shares of the company’s stock valued at $1,323,000 after purchasing an additional 2,469 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Corsair Gaming in the 3rd quarter valued at $262,000. Versor Investments LP lifted its position in Corsair Gaming by 158.0% during the 3rd quarter. Versor Investments LP now owns 34,595 shares of the company’s stock worth $503,000 after buying an additional 21,187 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Corsair Gaming during the 3rd quarter worth about $349,000. Institutional investors own 25.66% of the company’s stock.

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.