Corsair Gaming (NASDAQ:CRSR) Price Target Cut to $8.00

Corsair Gaming (NASDAQ:CRSR) had its target price lowered by stock analysts at Robert W. Baird from $10.00 to $8.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 19.94% from the company’s current price.

Several other research firms have also recently commented on CRSR. Stifel Nicolaus decreased their target price on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wedbush lowered their price objective on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Barclays cut their target price on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.60.

Corsair Gaming Stock Up 4.7 %

Corsair Gaming stock opened at $6.67 on Wednesday. The firm has a market cap of $694.68 million, a price-to-earnings ratio of -83.38 and a beta of 1.58. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $15.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.80. The firm has a 50 day moving average price of $6.78 and a two-hundred day moving average price of $9.74.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Thursday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. The firm had revenue of $261.30 million during the quarter, compared to analyst estimates of $290.30 million. During the same quarter in the previous year, the firm earned $0.03 EPS. Corsair Gaming’s quarterly revenue was down 19.7% on a year-over-year basis. Equities analysts predict that Corsair Gaming will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Corsair Gaming by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after acquiring an additional 64,373 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Corsair Gaming by 7.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,180,426 shares of the company’s stock valued at $24,072,000 after buying an additional 153,036 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Corsair Gaming by 23.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock worth $23,040,000 after buying an additional 305,602 shares in the last quarter. Palisade Capital Management LP raised its position in Corsair Gaming by 19.2% in the 4th quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock valued at $20,150,000 after buying an additional 230,390 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Corsair Gaming by 3.5% during 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 acquiring an additional 41,832 shares during the last quarter. 25.66% of the stock is 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.