Stifel Nicolaus Cuts Corsair Gaming (NASDAQ:CRSR) Price Target to $11.00

Corsair Gaming (NASDAQ:CRSR) had its price target lowered by Stifel Nicolaus from $16.00 to $11.00 in a research note released on Monday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Wedbush restated an outperform rating and set a $18.00 target price on shares of Corsair Gaming in a research note on Wednesday, May 8th. Robert W. Baird cut their price target on Corsair Gaming from $14.00 to $10.00 and set a neutral rating on the stock in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $14.33.

Corsair Gaming Price Performance

CRSR stock opened at $7.97 on Monday. The business has a 50 day moving average price of $10.75 and a 200 day moving average price of $11.82. The stock has a market cap of $828.16 million, a price-to-earnings ratio of -99.63 and a beta of 1.59. Corsair Gaming has a fifty-two week low of $7.96 and a fifty-two week high of $18.83. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The business had revenue of $337.26 million for the quarter, compared to analysts’ expectations of $364.15 million. Corsair Gaming had a positive return on equity of 4.70% and a negative net margin of 0.58%. Equities research analysts anticipate that Corsair Gaming will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Corsair Gaming by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after purchasing an additional 1,348 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Corsair Gaming by 6.6% in the fourth quarter. Vontobel Holding Ltd. now owns 25,897 shares of the company’s stock valued at $365,000 after purchasing an additional 1,612 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Corsair Gaming by 8.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,931 shares of the company’s stock worth $366,000 after acquiring an additional 1,931 shares during the period. Capstone Investment Advisors LLC grew its holdings in Corsair Gaming by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock worth $336,000 after acquiring an additional 2,250 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Corsair Gaming by 2.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 93,534 shares of the company’s stock worth $1,319,000 after acquiring an additional 2,464 shares during the period. Institutional investors and hedge funds 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.