Corsair Gaming (NASDAQ:CRSR) Given New $8.00 Price Target at Robert W. Baird

Corsair Gaming (NASDAQ:CRSR) had its price objective cut by analysts at Robert W. Baird from $10.00 to $8.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 19.94% from the company’s previous close.

Several other equities research analysts also recently commented on CRSR. Barclays dropped their price objective on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group dropped their price target on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Wedbush reduced 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. Finally, Stifel Nicolaus dropped 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and an average price target of $10.60.

Corsair Gaming Stock Up 4.7 %

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

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

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Corsair Gaming by 23.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock valued at $23,040,000 after purchasing an additional 305,602 shares during the period. Palisade Capital Management LP boosted its stake in Corsair Gaming by 19.2% during the fourth 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 period. Massachusetts Financial Services Co. MA grew its position in 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 worth $24,072,000 after buying an additional 153,036 shares in the last quarter. GSA Capital Partners LLP bought a new position in Corsair Gaming in the 1st quarter worth about $1,318,000. Finally, 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 valued at $67,686,000 after acquiring an additional 64,373 shares in the last quarter. Hedge funds and other 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.