Barclays Has Lowered Expectations for Corsair Gaming (NASDAQ:CRSR) Stock Price

Corsair Gaming (NASDAQ:CRSR) had its price objective cut by equities researchers at Barclays from $14.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 31.58% from the company’s current price.

CRSR has been the topic of a number of other reports. Robert W. Baird decreased their price objective on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. The Goldman Sachs Group reduced their target price on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Corsair Gaming in a report on Tuesday. Finally, Stifel Nicolaus reduced their price objective on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and a consensus target price of $9.60.

Corsair Gaming Trading Down 3.9 %

NASDAQ:CRSR traded down $0.28 during trading hours on Thursday, hitting $6.84. The company had a trading volume of 397,685 shares, compared to its average volume of 443,799. Corsair Gaming has a 1 year low of $5.59 and a 1 year high of $15.07. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $6.60 and a 200 day moving average of $8.69. The company has a market cap of $712.36 million, a P/E ratio of -18.84 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.36) earnings per share (EPS) for the quarter. Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. The firm had revenue of $304.20 million for the quarter, compared to analyst estimates of $305.03 million. Sell-side analysts expect that Corsair Gaming will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of CRSR. Massachusetts Financial Services Co. MA lifted its position in shares of Corsair Gaming by 7.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,180,426 shares of the company’s stock worth $24,072,000 after purchasing an additional 153,036 shares in the last quarter. Creative Planning boosted its position in Corsair Gaming by 579.2% in the 3rd quarter. Creative Planning now owns 82,182 shares of the company’s stock valued at $572,000 after buying an additional 70,083 shares during the period. Vanguard Group Inc. grew its stake in shares of Corsair Gaming by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after acquiring an additional 64,373 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Corsair Gaming by 12.2% during the second quarter. Renaissance Technologies LLC now owns 418,033 shares of the company’s stock worth $4,615,000 after acquiring an additional 45,400 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Corsair Gaming in the second quarter valued at $496,000. Institutional investors and hedge funds 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.