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

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Credo Technology Group in the last year. There are currently 1 sell rating, 1 hold rating and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" CRDO shares.
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8 Wall Street research analysts have issued 1 year target prices for Credo Technology Group's stock. Their CRDO share price targets range from $16.00 to $30.00. On average, they expect the company's stock price to reach $24.25 in the next twelve months. This suggests a possible upside of 30.4% 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 4.5% and is now trading at $18.59.
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Credo Technology Group saw a increase in short interest in 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 trading volume of 2,220,000 shares, the days-to-cover ratio is presently 5.0 days. Approximately 8.8% of the shares of the company are sold short.
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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) posted its earnings results on Tuesday, February, 27th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The firm earned $53.06 million during the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior 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 issued an update on its fourth quarter 2024 earnings guidance on Tuesday, February, 27th. The company provided earnings per share 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 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 a variety of institutional and retail investors. Top institutional investors include AMF Tjanstepension AB (1.05%), 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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