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

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Credo Technology Group in the last year. There are currently 1 sell rating, 3 hold ratings 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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10 brokerages have issued 1 year target prices for Credo Technology Group's stock. Their CRDO share price forecasts range from $11.00 to $20.00. On average, they expect the company's share price to reach $15.30 in the next twelve months. This suggests a possible upside of 5.7% from the stock's current price.
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Credo Technology Group's stock was trading at $13.31 at the beginning of the year. Since then, CRDO shares have increased by 8.8% and is now trading at $14.48.
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Credo Technology Group saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 7,310,000 shares, an increase of 14.4% from the August 15th total of 6,390,000 shares. Based on an average daily trading volume, of 2,150,000 shares, the short-interest ratio is currently 3.4 days. Approximately 6.9% 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, November 29th 2023.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) released its quarterly earnings data on Thursday, August, 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm earned $35.10 million during the quarter, compared to analysts' expectations of $34.27 million. Credo Technology Group had a negative net margin of 16.30% and a negative trailing twelve-month return on equity of 5.41%. Credo Technology Group's revenue for the quarter was down 24.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share.

ETFs with the largest weight of Credo Technology Group (NASDAQ:CRDO) stock in their portfolio include SPDR S&P Semiconductor ETF (XSD).BlackRock Future Tech ETF (BTEK).

Credo Technology Group updated its second quarter 2024 earnings guidance on Thursday, August, 24th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $42.00 million-$44.00 million, compared to the consensus revenue estimate of $40.32 million.

(CRDO) raised $220 million in an IPO 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 trades on the NASDAQ under the ticker symbol "CRDO."

Credo Technology Group's stock is owned by a variety of retail and institutional investors. Top institutional investors include Capital Research Global Investors (8.47%), BlackRock Inc. (7.35%), JPMorgan Chase & Co. (4.93%), State Street Corp (2.94%), Point72 Asset Management L.P. (2.48%) and Geode Capital Management LLC (1.31%). Insiders that own company stock include Adam Thorngate-Gottlund, Chi Fung Cheng, Daniel W Fleming, Lip Bu Tan, 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CRDO stock can currently be purchased for approximately $14.48.

Credo Technology Group (NASDAQ:CRDO) has a market capitalization of $2.17 billion and generates $184.19 million in revenue each year. The company earns $-16,550,000.00 in net income (profit) each year or ($0.19) on an earnings per share basis.

The company employs 438 workers across the globe.

Credo Technology Group's mailing address is 1600 TECHNOLOGY DRIVE, SAN JOSE CA, KY1-1104. The official website for the company is www.credosemi.com. The company can be reached via phone at 408-664-9329 or via email at ir@credosemi.com.