Corsair Gaming (NASDAQ:CRSR) Given New $9.00 Price Target at TD Cowen

Corsair Gaming (NASDAQ:CRSR) had its price target dropped by TD Cowen from $10.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target indicates a potential upside of 30.81% from the stock’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays reduced their price target on shares of Corsair Gaming from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus reduced their price target on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Corsair Gaming in a research report on Tuesday. Finally, Robert W. Baird cut their target price on shares of Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.17.

Corsair Gaming Stock Down 3.4 %

NASDAQ CRSR traded down $0.24 during trading hours on Thursday, reaching $6.88. 977,779 shares of the company’s stock traded hands, compared to its average volume of 446,484. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.80 and a quick ratio of 0.97. The firm has a market cap of $716.55 million, a PE ratio of -18.89 and a beta of 1.59. Corsair Gaming has a 52-week low of $5.59 and a 52-week high of $15.07. The firm has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $8.67.

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

Hedge Funds Weigh In On Corsair Gaming

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Corsair Gaming by 995.8% in the third quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after buying an additional 4,312 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Corsair Gaming during the third quarter valued at $101,000. Squarepoint Ops LLC purchased a new stake in Corsair Gaming during the second quarter valued at $121,000. Virtu Financial LLC purchased a new stake in Corsair Gaming during the first quarter valued at $162,000. Finally, PEAK6 Investments LLC raised its stake in Corsair Gaming by 144.3% during the first quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after purchasing an additional 43,393 shares in the last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Company Profile

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.