Credo Technology Group (CRDO) Stock Price, News & Analysis

8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Credo Technology Group in the last twelve months. There are currently 1 sell rating, 1 hold rating and 6 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CRDO shares.
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8 equities research analysts have issued 12 month target prices for Credo Technology Group's shares. Their CRDO share price targets range from $16.00 to $30.00. On average, they anticipate the company's stock price to reach $24.25 in the next twelve months. This suggests a possible upside of 34.8% from the stock's current price.
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Credo Technology Group's stock was trading at $19.47 at the beginning of 2024. Since then, CRDO shares have decreased by 7.6% and is now trading at $17.99.
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Credo Technology Group saw a increase in short interest in March. As of March 31st, there was short interest totaling 11,040,000 shares, an increase of 10.5% from the March 15th total of 9,990,000 shares. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is presently 5.0 days. Currently, 8.8% of the shares of the stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 29th 2024.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) released its quarterly earnings data on Tuesday, February, 27th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The business earned $53.06 million during the quarter, compared to analyst estimates of $51.91 million. Credo Technology Group had a negative net margin of 20.59% and a negative trailing twelve-month return on equity of 7.82%. The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS.

ETFs with the largest weight of Credo Technology Group (NASDAQ:CRDO) stock in their portfolio include SPDR S&P Semiconductor ETF (XSD), Invesco Semiconductors ETF (PSI) and Invesco Dorsey Wright Technology Momentum ETF (PTF).BlackRock Future Tech ETF (BTEK).

Credo Technology Group updated its fourth quarter 2024 earnings guidance on Tuesday, February, 27th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $59.0 million-$62.0 million, compared to the consensus revenue estimate of $59.8 million.

Credo Technology Group (CRDO) raised $220 million in an initial public offering (IPO) on Thursday, January 27th 2022. The company issued 20,000,000 shares at $10.00-$12.00 per share.

Credo Technology Group's stock is owned by many different institutional and retail investors. Top institutional shareholders include AMF Tjanstepension AB (1.05%), Allspring Global Investments Holdings LLC (0.22%), Diversified Trust Co (0.02%), Harbour Capital Advisors LLC (0.01%), Counterpoint Mutual Funds LLC (0.01%) and Banque Cantonale Vaudoise (0.00%). Insiders that own company stock include Adam Thorngate-Gottlund, Chi Fung Cheng, Daniel W Fleming, Lip Bu Tan, Pantas Sutardja, William Joseph Brennan, William Joseph Brennan and Yat Tung Lam.
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Shares of CRDO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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