Corsair Gaming (NASDAQ:CRSR) Price Target Lowered to $7.00 at Wedbush

Corsair Gaming (NASDAQ:CRSR) had its price target decreased by Wedbush from $9.00 to $7.00 in a research report report published on Friday morning, MarketBeat.com reports. Wedbush currently has an outperform rating on the stock.

Several other brokerages have also recently commented on CRSR. Craig Hallum set a $10.00 target price on Corsair Gaming in a research report on Wednesday, November 5th. Barclays decreased their price objective on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Wall Street Zen downgraded Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. B. Riley Financial reduced their price target on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Corsair Gaming has a consensus rating of “Hold” and a consensus price target of $8.79.

Corsair Gaming Stock Up 9.1%

CRSR stock opened at $5.17 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. The firm has a market capitalization of $550.97 million, a P/E ratio of -15.21 and a beta of 1.55. Corsair Gaming has a 52-week low of $4.59 and a 52-week high of $13.02. The company’s 50 day simple moving average is $5.87 and its 200-day simple moving average is $7.34.

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

Insider Activity at Corsair Gaming

In other news, CEO Thi L. La acquired 50,000 shares of the company’s 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 acquisition, the chief executive officer owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This represents a 11.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 58.38% of the company’s stock.

Institutional Trading of Corsair Gaming

A number of institutional investors have recently added to or reduced their stakes in CRSR. Ameritas Investment Partners Inc. increased its stake in shares of Corsair Gaming by 30.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after purchasing an additional 1,120 shares during the last quarter. Virtus Advisers LLC bought a new stake in Corsair Gaming in the second quarter worth $45,000. Tower Research Capital LLC TRC increased its position in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in 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 buying an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in 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 buying an additional 3,571 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.