Wedbush Reaffirms “Outperform” Rating for Corsair Gaming (NASDAQ:CRSR)

Wedbush restated their outperform rating on shares of Corsair Gaming (NASDAQ:CRSRFree Report) in a research report released on Wednesday, Benzinga reports. They currently have a $21.00 price target on the stock.

Several other equities analysts have also commented on CRSR. Stifel Nicolaus decreased their price target on Corsair Gaming from $21.00 to $17.00 and set a buy rating on the stock in a research note on Wednesday, November 8th. The Goldman Sachs Group decreased their price target on shares of Corsair Gaming from $20.00 to $14.00 and set a neutral rating for the company in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $18.00.

Check Out Our Latest Report on Corsair Gaming

Corsair Gaming Price Performance

Shares of NASDAQ CRSR opened at $12.81 on Wednesday. Corsair Gaming has a 52 week low of $11.45 and a 52 week high of $20.72. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 142.35 and a beta of 1.64. The company has a quick ratio of 1.12, a current ratio of 1.72 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $14.20.

Corsair Gaming (NASDAQ:CRSRGet Free Report) last issued its earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Corsair Gaming had a net margin of 0.19% and a return on equity of 5.05%. The company had revenue of $363.19 million during the quarter, compared to analysts’ expectations of $350.02 million. On average, equities analysts predict that Corsair Gaming will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Thi L. La sold 3,837 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $14.00, for a total value of $53,718.00. Following the completion of the sale, the chief operating officer now directly owns 212,994 shares of the company’s stock, valued at approximately $2,981,916. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 65.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Corsair Gaming by 156.5% in the first quarter. BlackRock Inc. now owns 4,717,854 shares of the company’s stock valued at $99,829,000 after acquiring an additional 2,878,715 shares in the last quarter. FMR LLC boosted its position in shares of Corsair Gaming by 95,492.2% in the first quarter. FMR LLC now owns 792,459 shares of the company’s stock worth $14,542,000 after acquiring an additional 791,630 shares during the last quarter. Vanguard Group Inc. grew its holdings in Corsair Gaming by 21.1% in the first quarter. Vanguard Group Inc. now owns 3,977,924 shares of the company’s stock valued at $84,173,000 after purchasing an additional 692,493 shares during the period. State Street Corp increased its position in Corsair Gaming by 98.2% during the first quarter. State Street Corp now owns 994,077 shares of the company’s stock worth $21,035,000 after purchasing an additional 492,651 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Corsair Gaming by 2,100.1% during the first quarter. Dimensional Fund Advisors LP now owns 494,503 shares of the company’s stock worth $9,074,000 after purchasing an additional 472,027 shares during the period. 24.20% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Company Profile

(Get Free Report)

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. It 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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Analyst Recommendations for Corsair Gaming (NASDAQ:CRSR)

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