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

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.00.

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

Corsair Gaming Price Performance

Corsair Gaming stock traded down $0.08 during midday trading on Monday, reaching $8.93. The company's stock had a trading volume of 52,734 shares, compared to its average volume of 1,059,378. Corsair Gaming has a fifty-two week low of $5.59 and a fifty-two week high of $13.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57. The stock's 50 day simple moving average is $7.61 and its 200 day simple moving average is $8.38. The firm has a market capitalization of $944.98 million, a PE ratio of -9.40 and a beta of 1.70.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The business had revenue of $369.75 million during the quarter, compared to analyst estimates of $366.20 million. During the same period last year, the business posted $0.09 EPS. Corsair Gaming's revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Corsair Gaming will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Corsair Gaming

In other news, CFO Michael G. Potter sold 4,124 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the sale, the chief financial officer now owns 125,650 shares in the company, valued at approximately $1,266,552. The trade was a 3.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 58.89% of the stock is owned by company insiders.

Institutional Trading of Corsair Gaming

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Corsair Gaming by 220.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company's stock worth $33,000 after purchasing an additional 3,414 shares during the period. BNP Paribas purchased a new position in Corsair Gaming in the 4th quarter worth approximately $33,000. Quarry LP purchased a new position in Corsair Gaming in the 4th quarter worth approximately $34,000. KLP Kapitalforvaltning AS purchased a new position in Corsair Gaming in the 4th quarter worth approximately $50,000. Finally, Quadrant Capital Group LLC boosted its holdings in Corsair Gaming by 45.8% in the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company's stock worth $53,000 after acquiring an additional 2,538 shares during the period. Hedge funds and other institutional investors own 25.66% of the company's stock.

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.