TD Cowen Issues Pessimistic Forecast for Corsair Gaming (NASDAQ:CRSR) Stock Price

Corsair Gaming (NASDAQ:CRSR) had its target price lowered by equities researchers at TD Cowen from $10.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 30.81% from the company’s current price.

A number of other research firms have also weighed in on CRSR. The Goldman Sachs Group lowered their target price on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Corsair Gaming in a research note on Tuesday. 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 note on Monday, July 22nd. Robert W. Baird dropped their price target on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Finally, Barclays dropped their price target on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $9.17.

Corsair Gaming Trading Down 3.4 %

CRSR stock traded down $0.24 during midday trading on Thursday, hitting $6.88. The stock had a trading volume of 977,779 shares, compared to its average volume of 446,484. The business has a fifty day moving average price of $6.60 and a two-hundred day moving average price of $8.67. Corsair Gaming has a 1-year low of $5.59 and a 1-year high of $15.07. The firm has a market cap of $716.55 million, a P/E ratio of -18.89 and a beta of 1.59. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

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

Institutional Trading of Corsair Gaming

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Corsair Gaming by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock valued at $67,686,000 after buying an additional 64,373 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Corsair Gaming by 286.4% during the 1st quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock valued at $210,000 after purchasing an additional 12,631 shares in the last quarter. PEAK6 Investments LLC lifted its position in Corsair Gaming by 144.3% during the 1st quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after acquiring an additional 43,393 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Corsair Gaming by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after acquiring an additional 1,348 shares during the period. Finally, Virtu Financial LLC purchased a new position in Corsair Gaming during the 1st quarter valued at about $162,000. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

About Corsair Gaming

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.