Corsair Gaming (NASDAQ:CRSR) Given New $11.00 Price Target at Wedbush

Corsair Gaming (NASDAQ:CRSR) had its price objective trimmed by Wedbush from $13.00 to $11.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a buy rating for the company in a research note on Monday, July 22nd. Barclays reduced their price objective 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. Finally, Robert W. Baird reduced their price objective on shares of Corsair Gaming from $14.00 to $10.00 and set a neutral rating on the stock in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $11.83.

Corsair Gaming Stock Down 18.8 %

Shares of CRSR stock traded down $1.48 on Friday, hitting $6.41. The stock had a trading volume of 1,330,409 shares, compared to its average volume of 623,110. The firm has a market capitalization of $666.06 million, a price-to-earnings ratio of -80.13 and a beta of 1.60. The stock’s 50 day moving average is $10.27 and its 200-day moving average is $11.55. 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 52-week low of $6.38 and a 52-week high of $18.45.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $337.26 million during the quarter, compared to analysts’ expectations of $364.15 million. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.15%. As a group, research analysts expect that Corsair Gaming will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRSR. Vanguard Group Inc. raised its holdings in shares of Corsair Gaming by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after purchasing an additional 64,373 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 305,602 shares during the period. Palisade Capital Management LP raised its holdings in shares of Corsair Gaming by 19.2% during the fourth quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock worth $20,150,000 after purchasing an additional 230,390 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Corsair Gaming by 94.4% during the fourth 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 period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Corsair Gaming by 3.5% during the second 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 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.