Corsair Gaming, Inc. (NASDAQ:CRSR) shares are trading higher Friday after the company reported better-than-expected fourth-quarter financial results on Thursday after the market closed.

• Corsair Gaming shares are powering higher. Why is CRSR stock surging?

Double Beat, Segment Performance And Share Repurchase

Corsair reported adjusted earnings per share of 43 cents, beating the consensus estimate of 27 cents. In addition, the company reported revenue of $436.85 million, beating the consensus estimate of $421.99 million, and representing a 6% year-over-year increase.

Gaming Components and Systems revenue grew more than 11% year-over-year in the fourth quarter, driven by 24% growth in the company's memory business.

Gamer and Creator Peripherals revenue declined 3% year-over-year, primarily due to lower demand in North America, partially offset by stronger international performance, particularly in the Asia-Pacific region.

“The Corsair team was able to successfully navigate a constrained global semiconductor market to secure supply for the robust global demand we saw for our memory products during the quarter, underlining our leadership position in the performance memory market,” the company said.

Corsair's board authorized a share repurchase program of up to $50 million of its outstanding common stock. The program is effective immediately and does not have an expiration date.

Looking ahead, the company expects fiscal-year revenue of $1.33 billion to $1.47 billion, versus the consensus estimate of $1.59 billion.

Consensus Ratings And Analyst Action

The company carries a consensus rating of Neutral and holds a consensus price target of $10.14. Following the earnings report, B. Riley Securities analyst Drew Crum maintained a Neutral rating on Corsair and raised the price target from $6 to $7.

Short-Term Strength Amid Broader Downtrend

Currently, the stock is trading 35.5% above its 20-day simple moving average (SMA) and 6.5% above its 100-day SMA, indicating short-term strength despite longer-term challenges. Over the past 12 months, shares have decreased by 43.69%, and they are positioned closer to their 52-week lows than highs, suggesting ongoing volatility.

The RSI is at 29.78, indicating that the stock is in oversold territory, while the MACD is below its signal line, suggesting bearish pressure on the stock. The combination of oversold RSI and bearish MACD indicates mixed momentum.

Corsair Stock Soars Higher

CRSR Price Action: At the time of publication, Corsair shares are trading 51.97% higher at $6.96, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.

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