Corsair Gaming (NASDAQ:CRSR) Receives Outperform Rating from Wedbush
Corsair Gaming (NASDAQ:CRSR – Get a Rating)The stock had its “outperform” rating reaffirmed by Wedbush equity research analysts in a note to investors released on Friday, reports RTT News. They currently have a price target of $22.00 on the stock. Wedbush’s price target indicates a potential upside of 38.36% from the company’s current price.
Several other stock analysts have also published reports on the CRSR. Barclays cut its price target on Corsair Gaming from $34.00 to $31.00 and set an “overweight” rating on the stock in a Wednesday, February 9 research report. Stifel Nicolaus reduced his price target on Corsair Gaming from $29.00 to $24.00 in a Friday, April 22 research report. DA Davidson reduced its price target on Corsair Gaming from $36.00 to $30.00 in a Friday, April 22 research report. Macquarie cut its price target on Corsair Gaming from $33.00 to $27.00 and set an “outperform” rating on the stock in a Wednesday, Feb. 9 research report. Finally, Credit Suisse Group reduced its price target on Corsair Gaming from $26.00 to $25.00 and set a “neutral” rating on the stock in a Wednesday, February 9 research report. One analyst rated the stock with a sell rating, three gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.67.
NASDAQ CRSR shares were up $0.36 during Friday trading hours, hitting $15.90. 24,171 shares of the stock were traded, 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 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 released its quarterly results on Thursday, May 5. The company reported earnings per share (EPS) of $0.09 for the quarter, missing the consensus estimate of $0.30 per ($0.21). Corsair Gaming has a return on equity of 24.94% and a net margin of 5.30%. The company posted revenue of $380.69 million for the quarter, versus a consensus estimate of $390.60 million. In the same quarter of the previous year, the company had earned earnings per share of $0.56. Corsair Gaming’s revenue fell 28.1% compared to the same quarter last year. As a group, sell-side analysts expect Corsair Gaming to post earnings per share of 1.06 for the current fiscal year.
Several institutional investors and hedge funds have recently increased or reduced their stake in CRSR. Rockefeller Capital Management LP increased its stake in Corsair Gaming shares by 47.6% in Q4. Rockefeller Capital Management LP now owns 1,971 shares of the company valued at $41,000 after purchasing an additional 636 shares during the period. Mutual of America Capital Management LLC bought a new position in Corsair Gaming stock in Q1 worth approximately $101,000. Advisor Group Holdings Inc. increased its stake in Corsair Gaming shares by 26.9% in Q4. Advisor Group Holdings Inc. now owns 5,277 shares of the company valued at $109,000 after purchasing an additional 1,120 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Corsair Gaming shares by 21.4% in Q3. Patriot Financial Group Insurance Agency LLC now owns 4,830 shares of the company valued at $125,000 after purchasing an additional 850 shares during the period. Finally, ARK Investment Management LLC bought a new position in Corsair Gaming stock in Q4 worth approximately $194,000. Institutional investors hold 14.77% of the company’s shares.
About Corsair Gaming (Get a 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 Asia-Pacific. The company offers peripherals for gamers and creators, including gaming keyboards, mice, headsets and controllers, as well as capture cards, broadcast decks, USB microphones, studio accessories and software. EpocCam.
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