Barclays Cuts Corsair Gaming (NASDAQ:CRSR) Price Target to $9.00

Corsair Gaming (NASDAQ:CRSR) had its target price lowered by Barclays from $12.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CRSR. B. Riley lowered their price objective on Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday. Macquarie lowered 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. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday. Wedbush reduced their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Corsair Gaming in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.29.

Corsair Gaming Price Performance

Corsair Gaming stock opened at $6.55 on Thursday. The business’s 50 day simple moving average is $8.27 and its 200 day simple moving average is $8.62. Corsair Gaming has a 12 month low of $5.64 and a 12 month high of $13.02. The company has a market cap of $698.03 million, a price-to-earnings ratio of -19.26 and a beta of 1.84. The company has a current ratio of 1.48, a quick ratio of 0.75 and a debt-to-equity ratio of 0.19.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $320.11 million for the quarter, compared to analyst estimates of $312.38 million. Corsair Gaming had a positive return on equity of 3.37% and a negative net margin of 2.46%.The business’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. Sell-side analysts forecast that Corsair Gaming will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its position in shares of Corsair Gaming by 30.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after purchasing an additional 1,120 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Corsair Gaming by 5.1% during the third quarter. State of Alaska Department of Revenue now owns 28,459 shares of the company’s stock valued at $253,000 after buying an additional 1,380 shares during the period. Vontobel Holding Ltd. grew its position in Corsair Gaming by 3.2% during the second quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company’s stock worth $427,000 after buying an additional 1,390 shares in the last quarter. BNP Paribas Financial Markets grew its position in 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 buying an additional 1,551 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Corsair Gaming by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 122,484 shares of the company’s stock worth $1,155,000 after acquiring an additional 1,592 shares during the last quarter. 25.66% of the stock is owned by institutional investors.

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.