Credo Technology Group (NASDAQ:CRDO) Given New $215.00 Price Target at Rosenblatt Securities

Key Points

• Rosenblatt Securities raised its price target on Credo Technology Group to $215 from $175, while keeping a neutral rating. The new target implies the stock is trading roughly in line with fair value.
• Credo’s latest quarterly results were strong, with EPS of $1.16 beating estimates and revenue of $437 million topping expectations. Revenue also jumped 157% year over year, reflecting robust demand tied to AI data center growth.
• Analyst sentiment remains upbeat overall despite the neutral call from Rosenblatt: several firms, including Needham, Jefferies, and Mizuho, have buy/outperform ratings and higher targets. MarketBeat data shows the stock’s average analyst rating is Buy with an average target of $231.94.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) had its price target hoisted by investment analysts at Rosenblatt Securities from $175.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Rosenblatt Securities' price target would indicate a potential downside of 0.68% from the stock's previous close.

A number of other equities analysts have also weighed in on CRDO. Needham & Company LLC boosted their target price on Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday. Stifel Nicolaus set a $250.00 price target on shares of Credo Technology Group in a report on Wednesday, May 27th. Roth Mkm reiterated a "buy" rating and issued a $300.00 price target on shares of Credo Technology Group in a research note on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $270.00 price objective on shares of Credo Technology Group in a report on Tuesday. Finally, Mizuho raised their target price on shares of Credo Technology Group from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $231.94.

Credo Technology Group Stock Down 8.3%

NASDAQ:CRDO opened at $216.47 on Tuesday. The stock has a market cap of $39.93 billion, a price-to-earnings ratio of 125.61 and a beta of 3.22. The company's 50 day moving average price is $160.55 and its 200-day moving average price is $145.28. Credo Technology Group has a 52 week low of $59.88 and a 52 week high of $243.21.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $437.00 million for the quarter, compared to analysts' expectations of $431.80 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm's quarterly revenue was up 157.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Credo Technology Group will post 2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider James Laufman sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $164.41, for a total value of $1,644,100.00. Following the transaction, the insider directly owned 198,609 shares of the company's stock, valued at approximately $32,653,305.69. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Friday, May 1st. The shares were sold at an average price of $178.99, for a total value of $4,922,225.00. Following the transaction, the chief technology officer owned 6,024,870 shares in the company, valued at $1,078,391,481.30. This trade represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 386,608 shares of company stock valued at $50,371,351. Company insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRDO. Corient Private Wealth LLC raised its stake in Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company's stock worth $517,835,000 after acquiring an additional 3,597,318 shares during the period. Amundi boosted its position in shares of Credo Technology Group by 28,478.2% in the fourth quarter. Amundi now owns 1,559,796 shares of the company's stock worth $224,439,000 after purchasing an additional 1,554,338 shares during the period. Janus Henderson Group PLC increased its stake in shares of Credo Technology Group by 841.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company's stock worth $228,979,000 after purchasing an additional 1,422,391 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after purchasing an additional 1,406,752 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in shares of Credo Technology Group during the 3rd quarter valued at $183,553,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Key Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo beat expectations in Q4, reporting EPS of $1.16 versus estimates around $1.02-$1.03 and revenue of $437.0 million versus consensus of $431.8 million. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Revenue surged 157% year over year, underscoring strong demand for its high-speed connectivity products tied to AI data center buildouts. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Mizuho raised its price target on CRDO to $260 from $220 and kept an outperform rating, signaling continued analyst confidence after the results. Credo Technology Stock Dives Despite Q4 Earnings Beat
• Neutral Sentiment: The company guided first-quarter fiscal 2027 revenue to $465 million-$475 million, above the Street estimate of about $462.9 million, but the EPS outlook was not clearly provided in the report. Credo Technology Group Holding Ltd Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Negative Sentiment: Despite the strong print, the stock fell in after-hours trading, suggesting investors were disappointed by gross margin or other forward-looking concerns and may be taking profits after a large run-up. Credo Technology Stock Dives Despite Q4 Earnings Beat

Credo Technology Group Company Profile

Credo Technology Group, Inc NASDAQ: CRDO is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo's product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.

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