Brokerages Set Corsair Gaming, Inc. (NASDAQ:CRSR) Price Target at $16.33

Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $16.33.

CRSR has been the subject of several research analyst reports. Stifel Nicolaus reduced their price target on shares of Corsair Gaming from $17.00 to $16.00 and set an “action list buy” rating for the company in a research report on Wednesday, February 14th. Robert W. Baird dropped their price target on Corsair Gaming from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, February 15th. Barclays reduced their price objective on Corsair Gaming from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $21.00 target price on shares of Corsair Gaming in a report on Wednesday, February 7th.

Corsair Gaming Stock Performance

CRSR opened at $11.61 on Wednesday. The firm has a fifty day moving average price of $11.97 and a 200 day moving average price of $12.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.13. Corsair Gaming has a 1 year low of $10.59 and a 1 year high of $20.72. The stock has a market cap of $1.21 billion, a P/E ratio of 383.13 and a beta of 1.61.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corsair Gaming had a net margin of 0.15% and a return on equity of 5.13%. The business had revenue of $417.29 million during the quarter, compared to analysts’ expectations of $435.57 million. Equities research analysts anticipate that Corsair Gaming will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in Corsair Gaming by 94.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,395,985 shares of the company’s stock valued at $19,683,000 after acquiring an additional 678,017 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Corsair Gaming by 23.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,633,973 shares of the company’s stock valued at $23,040,000 after purchasing an additional 305,602 shares during the period. Palisade Capital Management LP lifted its stake in shares of Corsair Gaming by 19.2% in the 4th quarter. Palisade Capital Management LP now owns 1,429,110 shares of the company’s stock valued at $20,150,000 after purchasing an additional 230,390 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Corsair Gaming by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,429,071 shares of the company’s stock worth $78,884,000 after purchasing an additional 149,947 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Corsair Gaming during the 1st quarter worth about $1,318,000. 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.