Credo Technology Group Holding Ltd (NASDAQ:CRDO) Receives $21.00 Average Target Price from Analysts

Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) has been given an average recommendation of “Buy” by the eight research firms that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $20.88.

A number of brokerages have commented on CRDO. Needham & Company LLC started coverage on shares of Credo Technology Group in a report on Tuesday, February 22nd. They issued a “buy” rating and a $20.00 target price for the company. Roth Capital upped their target price on Credo Technology Group from $20.00 to $25.00 in a research report on Thursday, March 10th. Mizuho upped their target price on Credo Technology Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 10th. Craig Hallum assumed coverage on Credo Technology Group in a research report on Tuesday, February 22nd. They issued a “buy” rating and a $19.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on Credo Technology Group in a research report on Tuesday, February 22nd. They issued a “buy” rating and a $23.00 target price on the stock.

CRDO stock opened at $11.41 on Wednesday. The company has a 50-day moving average price of $14.56. Credo Technology Group has a 1-year low of $10.80 and a 1-year high of $18.00.

Credo Technology Group (NASDAQ:CRDO – Get Rating) last announced its earnings results on Wednesday, March 9th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $31.80 million during the quarter, compared to the consensus estimate of $29.60 million. On average, research analysts anticipate that Credo Technology Group will post -0.1 EPS for the current fiscal year.

About Credo Technology Group (Get Rating)

Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Malaysia, Hong Kong, and internationally. Its products include integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.

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