Wedbush Reiterates Outperform Rating for Corsair Gaming (NASDAQ:CRSR)

by · The Markets Daily

Corsair Gaming (NASDAQ:CRSR – Get Free Report)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They presently have a $13.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 81.82% from the company’s current price.

A number of other equities research analysts have also weighed in on CRSR. Robert W. Baird boosted their price target on Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Barclays raised their price target on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.29.

View Our Latest Stock Analysis on Corsair Gaming

Corsair Gaming Stock Down 1.2 %

Shares of NASDAQ:CRSR traded down $0.09 during trading hours on Monday, hitting $7.15. The company’s stock had a trading volume of 172,213 shares, compared to its average volume of 1,091,988. The firm’s fifty day moving average price is $8.58 and its 200 day moving average price is $8.20. Corsair Gaming has a 52 week low of $5.59 and a 52 week high of $13.02. The company has a market capitalization of $756.61 million, a price-to-earnings ratio of -7.53 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92.

Corsair Gaming (NASDAQ:CRSR – Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. As a group, research analysts expect that Corsair Gaming will post 0.22 EPS for the current year.

Insider Activity

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the transaction, the chief financial officer now directly owns 125,650 shares in the company, valued at approximately $1,266,552. This represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 58.89% of the company’s stock.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Corsair Gaming by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 6,716 shares of the company’s stock valued at $44,000 after buying an additional 1,971 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Corsair Gaming by 16.4% in the first quarter. Cerity Partners LLC now owns 14,333 shares of the company’s stock valued at $127,000 after purchasing an additional 2,016 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Corsair Gaming by 45.8% in the fourth quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock valued at $53,000 after buying an additional 2,538 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Corsair Gaming by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 39,429 shares of the company’s stock worth $274,000 after buying an additional 2,756 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Corsair Gaming by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company’s stock valued at $257,000 after purchasing an additional 2,789 shares during the last quarter. 25.66% 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, 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.

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