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

Corsair Gaming (NASDAQ:CRSR) had its price target decreased by stock analysts at Barclays from $12.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 39.36% from the stock’s current price.

CRSR has been the subject of several other reports. B. Riley reduced their target price on Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday. Craig Hallum set a $10.00 price objective on Corsair Gaming in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Corsair Gaming in a research note on Wednesday, October 8th. Wedbush dropped their target price on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Macquarie reduced their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Corsair Gaming has an average rating of “Hold” and a consensus target price of $9.25.

Corsair Gaming Stock Performance

NASDAQ:CRSR opened at $6.46 on Thursday. The firm’s 50-day moving average is $8.37 and its 200-day moving average is $8.62. The company has a market cap of $684.81 million, a price-to-earnings ratio of -19.46 and a beta of 1.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.45. Corsair Gaming has a 52-week low of $5.64 and a 52-week high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last released its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Corsair Gaming had a positive return on equity of 3.36% and a negative net margin of 2.46%.The business had revenue of $320.11 million for the quarter, compared to the consensus estimate of $312.38 million. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. Equities research analysts anticipate that Corsair Gaming will post 0.22 earnings per share for the current year.

Institutional Trading of Corsair Gaming

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSR. Virtus Advisers LLC acquired a new position in Corsair Gaming during 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 valued at $45,000 after buying an additional 1,120 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Corsair Gaming by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after purchasing an additional 3,681 shares during the last quarter. BNP Paribas Financial Markets grew its stake 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 worth $74,000 after purchasing an additional 1,551 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Corsair Gaming by 70.6% in 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 during the period. 25.66% of the stock is owned by 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.