Corsair Gaming, Inc. (NASDAQ:CRSR) Receives $10.00 Average Price Target from Brokerages

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.00.

A number of brokerages recently weighed in on CRSR. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Barclays cut their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Corsair Gaming in a research report on Monday, May 5th.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently added to or reduced their stakes in CRSR. Vontobel Holding Ltd. increased its holdings in Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock valued at $463,000 after acquiring an additional 40,015 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Corsair Gaming by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 218,742 shares of the company’s stock worth $1,446,000 after purchasing an additional 7,351 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock worth $4,884,000 after purchasing an additional 212,792 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Corsair Gaming during the 4th quarter worth about $90,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Corsair Gaming by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,801 shares of the company’s stock worth $2,629,000 after purchasing an additional 15,067 shares during the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Corsair Gaming Trading Up 3.6%

Shares of Corsair Gaming stock opened at $9.39 on Friday. The company has a fifty day simple moving average of $8.18 and a 200-day simple moving average of $8.63. Corsair Gaming has a 12-month low of $5.60 and a 12-month high of $13.02. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The stock has a market cap of $993.65 million, a price-to-earnings ratio of -10.10 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $369.75 million during the quarter, compared to analyst estimates of $366.20 million. Corsair Gaming had a negative net margin of 7.20% and a negative return on equity of 4.65%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. On average, equities analysts forecast that Corsair Gaming will post 0.22 EPS for the current fiscal year.

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.