Credo Technology Group Holding Ltd [CRDO] stock is trading at $21.80, up 2.06%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The CRDO shares have gain 2.54% over the last week, with a monthly amount drifted -3.20%, and not seem to be holding up well over a long-time horizon.
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On 2, April 2024, Credo Technology Group Holding Ltd Announces Appointment of Industry Veteran Clyde Hosein to Board of Directors. In a post published today on Yahoo Finance, Credo Technology Group Holding Ltd (“Credo” or the “Company”) (Nasdaq: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved power efficiency as data rates and corresponding bandwidth requirements increase throughout the data infrastructure market, today announced the appointment of Clyde Hosein to the Company’s board of directors effective April 3, 2024.
From an analyst’s perspective:
Credo Technology Group Holding Ltd [NASDAQ: CRDO] stock has seen the most recent analyst activity on February 28, 2024, when TD Cowen reiterated its Market Perform rating and also boosted its price target to $24 from $20. Previously, TD Cowen reaffirmed its Market Perform rating on November 30, 2023, and elevated its price target to $20. On October 02, 2023, Barclays initiated with a Overweight rating and assigned a price target of $18 on the stock. TD Cowen reiterated its Market Perform rating and increased its price target to $16 on August 25, 2023. Exane BNP Paribas initiated its recommendation with a Outperform and recommended $13 as its price target on February 28, 2023. Needham reiterated a Buy rating for this stock on February 15, 2023, and downed its price target to $15. In a note dated February 15, 2023, Cowen downgraded an Market Perform rating on this stock and revised its target price from $18 to $11.
Credo Technology Group Holding Ltd [CRDO] stock has fluctuated between $7.20 and $23.90 over the past year. Currently, Wall Street analysts expect the stock to reach $17.33 within the next 12 months. Credo Technology Group Holding Ltd [NASDAQ: CRDO] shares were valued at $21.80 at the most recent close of the market. An investor can expect a potential drop of -20.5% based on the average CRDO price forecast.
Analyzing the CRDO fundamentals
Credo Technology Group Holding Ltd [NASDAQ:CRDO] reported sales of 164.28M for the trailing twelve months, which represents a drop of -2.23%. Gross Profit Margin for this corporation currently stands at 0.58% with Operating Profit Margin at -0.28%, Pretax Profit Margin comes in at -0.21%, and Net Profit Margin reading is -0.21%. To continue investigating profitability, this company’s Return on Assets is posted at -0.06, Equity is -0.09 and Total Capital is -0.08. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.03.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 21.33 points at the first support level, and at 20.85 for the second support level. However, for the 1st resistance point, the stock is sitting at 22.07, and for the 2nd resistance point, it is at 22.34.
Credo Technology Group Holding Ltd [CRDO] reported earnings per share of $0.04 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.03/share, meaning a difference of $0.01 and a surprise factor of 33.30%.
Ratios To Look Out For
For context, Credo Technology Group Holding Ltd’s Current Ratio is 12.72. In addition, the Quick Ratio stands at 11.94 and the Cash Ratio stands at 2.39. Considering the valuation of this stock, the price to sales ratio is 21.67, the price to book ratio is 6.66.
Transactions by insiders
Recent insider trading involved Brennan William Joseph, Pres & Chief Executive Officer, that happened on Nov 17 ’27 when 15000.0 shares were sold. Pres & Chief Executive Officer, Brennan William Joseph completed a deal on Oct 24 ’24 to sell 15000.0 shares. Meanwhile, Pres & Chief Executive Officer Brennan William Joseph sold 15000.0 shares on Apr 05 ’24.
