Corsair Gaming (NASDAQ:CRSR) Price Target Cut to $9.00 by Analysts at Wedbush

Corsair Gaming (NASDAQ:CRSR) had its price target reduced by investment analysts at Wedbush from $13.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 39.86% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Barclays upgraded shares of Corsair Gaming to a “strong-buy” rating in a report on Friday, August 8th. B. Riley began coverage on Corsair Gaming in a report on Thursday, October 2nd. They issued a “neutral” rating and a $10.00 target price for the company. Craig Hallum began coverage on Corsair Gaming in a research note on Wednesday, October 8th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Corsair Gaming in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.63.

Corsair Gaming Price Performance

Shares of CRSR stock opened at $6.44 on Wednesday. The business has a fifty day simple moving average of $8.41 and a 200 day simple moving average of $8.63. The company has a market cap of $682.37 million, a P/E ratio of -7.81 and a beta of 1.84. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Corsair Gaming has a twelve month low of $5.64 and a twelve month high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $345.76 million during the quarter, compared to the consensus estimate of $354.04 million. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%.The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company posted ($0.29) EPS. Corsair Gaming has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Corsair Gaming will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Corsair Gaming

A number of institutional investors have recently made changes to their positions in the stock. Sunriver Management LLC acquired a new stake in shares of Corsair Gaming in the first quarter valued at about $16,733,000. Driehaus Capital Management LLC bought a new stake in Corsair Gaming in the first quarter valued at approximately $7,772,000. Alyeska Investment Group L.P. increased its position in Corsair Gaming by 302.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 914,879 shares of the company’s stock valued at $8,106,000 after purchasing an additional 687,477 shares during the period. AQR Capital Management LLC raised its holdings in Corsair Gaming by 328.9% during the 2nd quarter. AQR Capital Management LLC now owns 397,881 shares of the company’s stock worth $3,752,000 after purchasing an additional 305,103 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Corsair Gaming by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 6,101,154 shares of the company’s stock worth $54,056,000 after purchasing an additional 287,795 shares during the period. 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.