Corsair Gaming (NASDAQ:CRSR) Given Outperform Rating at Wedbush

Corsair Gaming (NASDAQ:CRSR – Get Rating)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Friday, RTT News reports. They presently have a $22.00 price target on the stock. Wedbush’s price target points to a potential upside of 38.36% from the company’s current price.

Several other equities analysts have also issued reports on CRSR. Barclays reduced their price target on Corsair Gaming from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Stifel Nicolaus reduced their price target on Corsair Gaming from $29.00 to $24.00 in a research report on Friday, April 22nd. DA Davidson reduced their price target on Corsair Gaming from $36.00 to $30.00 in a research report on Friday, April 22nd. Macquarie cut their price objective on Corsair Gaming from $33.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 9th. Finally, Credit Suisse Group cut their price objective on Corsair Gaming from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.67.

Shares of NASDAQ CRSR traded up $0.36 during trading hours on Friday, reaching $15.90. 24,171 shares of the stock traded hands, compared to its average volume of 766,267. The company has a market capitalization of $1.52 billion, a P/E ratio of 15.59 and a beta of 1.70. The company has a quick ratio of 0.91, a current ratio of 1.58 and a debt-to-equity ratio of 0.43. Corsair Gaming has a 52-week low of $14.63 and a 52-week high of $42.97. The company’s 50-day simple moving average is $19.78 and its two-hundred day simple moving average is $21.43.

Corsair Gaming (NASDAQ:CRSR – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.21). Corsair Gaming had a return on equity of 24.94% and a net margin of 5.30%. The company had revenue of $380.69 million for the quarter, compared to the consensus estimate of $390.60 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Corsair Gaming’s revenue was down 28.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Corsair Gaming will post 1.06 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRSR. Rockefeller Capital Management L.P. lifted its stake in shares of Corsair Gaming by 47.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,971 shares of the company’s stock valued at $41,000 after purchasing an additional 636 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of Corsair Gaming in the 1st quarter valued at approximately $101,000. Advisor Group Holdings Inc. lifted its stake in shares of Corsair Gaming by 26.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,277 shares of the company’s stock valued at $109,000 after purchasing an additional 1,120 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Corsair Gaming by 21.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,830 shares of the company’s stock valued at $125,000 after purchasing an additional 850 shares during the period. Finally, ARK Investment Management LLC purchased a new position in shares of Corsair Gaming in the 4th quarter valued at approximately $194,000. Institutional investors own 14.77% of the company’s stock.

About Corsair Gaming (Get Rating)

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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