Corsair Gaming, Inc. (NASDAQ:CRSR) Receives $9.29 Average Price Target from Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $9.2857.

A number of analysts have recently weighed in on CRSR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 8th. Craig Hallum set a $10.00 price objective on shares of Corsair Gaming in a research note on Wednesday, November 5th. Barclays dropped their target price on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Macquarie cut their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, B. Riley reduced their price target on shares of Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th.

Corsair Gaming Stock Down 4.8%

Shares of NASDAQ CRSR opened at $6.20 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. Corsair Gaming has a 1 year low of $5.35 and a 1 year high of $13.02. The stock’s 50-day simple moving average is $7.06 and its 200-day simple moving average is $8.35. The firm has a market cap of $660.73 million, a price-to-earnings ratio of -18.23 and a beta of 1.51.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The business had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $354.04 million. During the same period in the prior year, the company posted ($0.29) EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities analysts anticipate that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Samuel R. Szteinbaum purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $6.59 per share, with a total value of $659,000.00. Following the transaction, the director owned 420,267 shares in the company, valued at approximately $2,769,559.53. The trade was a 31.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thi L. La acquired 50,000 shares of Corsair Gaming stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the purchase, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

A number of institutional investors and hedge funds have recently modified their holdings of CRSR. Virtus Advisers LLC acquired a new position in shares of Corsair Gaming in the 2nd quarter valued at about $45,000. Ameritas Investment Partners Inc. lifted its holdings in Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after acquiring an additional 1,120 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Corsair Gaming by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock valued at $49,000 after acquiring an additional 3,681 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Corsair Gaming by 24.7% during the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after purchasing an additional 1,551 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Corsair Gaming by 70.6% during the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock valued at $81,000 after purchasing an additional 3,571 shares during the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

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.