Corsair Gaming (NASDAQ:CRSR) Given New $9.00 Price Target at The Goldman Sachs Group

Corsair Gaming (NASDAQ:CRSR) had its price objective reduced by The Goldman Sachs Group from $13.00 to $9.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird reduced their price objective on Corsair Gaming from $14.00 to $10.00 and set a neutral rating for the company in a research note on Friday, July 19th. Wedbush reduced their price objective on Corsair Gaming from $13.00 to $11.00 and set an outperform rating for the company in a research note on Friday. Stifel Nicolaus cut their target price on Corsair Gaming from $16.00 to $11.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Finally, Barclays cut their target price on Corsair Gaming from $17.00 to $14.00 and set an overweight rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $11.83.

Corsair Gaming Stock Down 18.8 %

Corsair Gaming stock traded down $1.48 during mid-day trading on Friday, reaching $6.41. The stock had a trading volume of 1,330,409 shares, compared to its average volume of 623,110. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.08 and a current ratio of 1.82. Corsair Gaming has a fifty-two week low of $6.38 and a fifty-two week high of $18.45. The stock’s 50-day simple moving average is $10.27 and its 200-day simple moving average is $11.55. The firm has a market capitalization of $666.06 million, a PE ratio of -80.13 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.15%. The firm had revenue of $337.26 million during the quarter, compared to analyst estimates of $364.15 million. On average, sell-side analysts forecast that Corsair Gaming will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Corsair Gaming by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock valued at $67,686,000 after buying an additional 64,373 shares during the period. Dimensional Fund Advisors LP boosted its stake in Corsair Gaming by 23.0% in the fourth 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 grew its position in shares of Corsair Gaming by 19.2% during the 4th quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock valued at $20,150,000 after acquiring an additional 230,390 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Corsair Gaming by 94.4% during the 4th 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. Finally, Bank of New York Mellon Corp raised its holdings in shares of Corsair Gaming by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock worth $13,830,000 after purchasing an additional 41,832 shares during the period. 25.66% of the stock is owned by hedge funds and other 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.