Credo Technology Group (NASDAQ:CRDO) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised its price target on Credo Technology Group from $240 to $260 and kept a buy rating, implying about 18.7% upside from the prior close.
• Credo beat quarterly expectations with EPS of $1.16 versus $1.02 expected and revenue of $437 million versus $431.8 million, while revenue jumped 157% year over year.
• Analyst sentiment remains upbeat overall, with several firms lifting targets and the consensus rating still at Buy; however, the stock traded down sharply on the day despite the strong results.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) had its target price increased by research analysts at TD Cowen from $240.00 to $260.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective would suggest a potential upside of 18.66% from the company's previous close.

A number of other equities research analysts have also weighed in on CRDO. JPMorgan Chase & Co. lifted their target price on Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday. Stifel Nicolaus set a $250.00 price target on Credo Technology Group in a research note on Wednesday, May 27th. Mizuho lifted their price objective on Credo Technology Group from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Monday. Needham & Company LLC upped their price objective on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Craig Hallum reiterated a "buy" rating and set a $200.00 target price on shares of Credo Technology Group in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group presently has an average rating of "Buy" and a consensus target price of $248.41.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO traded down $16.91 during mid-day trading on Tuesday, reaching $219.12. 12,651,584 shares of the company traded hands, compared to its average volume of 6,185,664. The company's 50 day moving average price is $160.55 and its 200-day moving average price is $145.28. The firm has a market cap of $40.42 billion, a PE ratio of 125.61 and a beta of 3.22. 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 posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates 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 last year, the firm earned $0.20 earnings per share. The business's quarterly revenue was up 157.0% on a year-over-year basis. On average, research analysts predict that Credo Technology Group will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William Joseph Brennan sold 6,149 shares of the business's stock in a transaction on Sunday, April 5th. The stock was sold at an average price of $101.45, for a total transaction of $623,816.05. Following the transaction, the chief executive officer directly owned 222,311 shares in the company, valued at $22,553,450.95. The trade was a 2.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the company's stock in a transaction dated 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 directly owned 6,024,870 shares in the company, valued at $1,078,391,481.30. This represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 386,608 shares of company stock valued at $50,371,351 over the last 90 days. 11.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Credo Technology Group

Large investors have recently modified their holdings of the business. Glenmede Trust Co. NA grew its stake in Credo Technology Group by 2.0% during the 1st quarter. Glenmede Trust Co. NA now owns 5,706 shares of the company's stock valued at $536,000 after purchasing an additional 114 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Credo Technology Group by 12.7% during the first quarter. Segall Bryant & Hamill LLC now owns 111,621 shares of the company's stock worth $10,478,000 after purchasing an additional 12,616 shares during the period. Verus Capital Partners LLC purchased a new stake in Credo Technology Group in the first quarter valued at approximately $506,000. Western Wealth Management LLC acquired a new position in Credo Technology Group in the 1st quarter worth approximately $38,000. Finally, Edgestream Partners L.P. raised its position in Credo Technology Group by 28.4% during the 1st quarter. Edgestream Partners L.P. now owns 22,168 shares of the company's stock worth $2,081,000 after buying an additional 4,904 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Trending Headlines about Credo Technology Group

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

About Credo Technology Group

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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