Corsair Gaming (NASDAQ:CRSR) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Corsair Gaming (NASDAQ:CRSR) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $18.00 price objective on the stock.

A number of other equities analysts also recently commented on the stock. Robert W. Baird reduced their target price on shares of Corsair Gaming from $15.00 to $14.00 and set a neutral rating for the company in a report on Thursday, February 15th. Barclays cut their price objective on shares of Corsair Gaming from $20.00 to $17.00 and set an overweight rating on the stock in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus decreased their target price on shares of Corsair Gaming from $17.00 to $16.00 and set an action list buy rating for the company in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corsair Gaming presently has a consensus rating of Moderate Buy and an average price target of $15.83.

Corsair Gaming Stock Up 0.2 %

NASDAQ:CRSR traded up $0.02 during mid-day trading on Wednesday, reaching $10.81. The company’s stock had a trading volume of 118,683 shares, compared to its average volume of 350,829. The company has a quick ratio of 1.13, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. Corsair Gaming has a 1 year low of $10.31 and a 1 year high of $20.72. The stock has a fifty day moving average of $11.86 and a 200-day moving average of $12.80. The firm has a market capitalization of $1.12 billion, a PE ratio of 359.79 and a beta of 1.61.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $417.29 million during the quarter, compared to analysts’ expectations of $435.57 million. Corsair Gaming had a return on equity of 5.13% and a net margin of 0.15%. Equities research analysts forecast that Corsair Gaming will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd lifted its position in Corsair Gaming by 23,240.0% during the third quarter. Covestor Ltd now owns 2,334 shares of the company’s stock valued at $34,000 after purchasing an additional 2,324 shares during the period. SG Americas Securities LLC acquired a new stake in Corsair Gaming during the fourth quarter worth about $177,000. Victory Capital Management Inc. acquired a new stake in Corsair Gaming during the third quarter worth about $262,000. Amalgamated Bank lifted its holdings in Corsair Gaming by 6.9% in the third quarter. Amalgamated Bank now owns 19,357 shares of the company’s stock valued at $281,000 after acquiring an additional 1,243 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Corsair Gaming in the 4th quarter worth approximately $305,000. 25.66% of the stock is currently 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.