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

8 Wall Street 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 research analysts is that investors should "moderate buy" CRDO shares.
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8 analysts have issued 1-year price objectives for Credo Technology Group's shares. Their CRDO share price targets range from $16.00 to $30.00. On average, they predict the company's share price to reach $24.25 in the next year. This suggests a possible upside of 26.4% from the stock's current price.
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Credo Technology Group's stock was trading at $19.47 at the beginning of the year. Since then, CRDO stock has decreased by 1.5% and is now trading at $19.18.
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Credo Technology Group saw a increase in short interest during the month of 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. Approximately 8.8% of the company's 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 results on Tuesday, February, 27th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $53.06 million for the quarter, compared to analysts' expectations of $51.91 million. Credo Technology Group had a negative trailing twelve-month return on equity of 7.82% and a negative net margin of 20.59%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business 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 on Thursday, January 27th 2022. The company issued 20,000,000 shares at a price of $10.00-$12.00 per share.

Credo Technology Group's stock is owned by many different institutional and retail investors. Top institutional shareholders include 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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