Corsair Gaming (NASDAQ:CRSR) Given New $9.00 Price Target at Barclays

Corsair Gaming (NASDAQ:CRSR) had its target price decreased by equities researchers at Barclays from $14.00 to $9.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 31.58% from the stock’s current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group dropped their target price on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Corsair Gaming in a report on Tuesday. Finally, Robert W. Baird dropped their price objective on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Corsair Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.60.

Corsair Gaming Stock Performance

Shares of NASDAQ:CRSR traded down $0.28 during midday trading on Thursday, reaching $6.84. The company’s stock had a trading volume of 397,685 shares, compared to its average volume of 443,799. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $6.60 and a 200 day moving average of $8.69. Corsair Gaming has a twelve month low of $5.59 and a twelve month high of $15.07. The firm has a market capitalization of $712.36 million, a PE ratio of -18.84 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.36) earnings per share for the quarter. The company had revenue of $304.20 million for the quarter, compared to analyst estimates of $305.03 million. Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. On average, equities analysts expect that Corsair Gaming will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

Several large investors have recently bought and sold shares of the company. Creative Planning boosted its stake in shares of Corsair Gaming by 579.2% in the third quarter. Creative Planning now owns 82,182 shares of the company’s stock worth $572,000 after acquiring an additional 70,083 shares during the last quarter. GAMMA Investing LLC boosted its stake in Corsair Gaming by 995.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after purchasing an additional 4,312 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Corsair Gaming during the 3rd quarter worth $101,000. Algert Global LLC grew its holdings in shares of Corsair Gaming by 10.6% during the second quarter. Algert Global LLC now owns 128,279 shares of the company’s stock worth $1,416,000 after buying an additional 12,297 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Corsair Gaming by 18.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company’s stock valued at $273,000 after buying an additional 3,906 shares during the last quarter. 25.66% of the stock is currently owned by hedge funds and other 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.