A share price of Credo Technology Group Holding Ltd [CRDO] is currently trading at $31.94, up 2.08%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CRDO shares have gain 16.19% over the last week, with a monthly amount glided 57.96%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Credo Technology Group Holding Ltd [NASDAQ: CRDO] stock has seen the most recent analyst activity on June 25, 2024, when TD Cowen upgraded its rating to a Buy and also boosted its price target to $35 from $24. Previously, TD Cowen reaffirmed its Market Perform rating on February 28, 2024, and elevated its price target to $24. On November 30, 2023, TD Cowen reiterated its Market Perform rating and revised its price target to $20 on the stock. Barclays started tracking the stock assigning a Overweight rating and suggested a price target of $18 on October 02, 2023. TD Cowen reiterated its recommendation of a Market Perform and raised its price target to $16 on August 25, 2023. Exane BNP Paribas started tracking with a Outperform rating for this stock on February 28, 2023, and assigned it a price target of $13. In a note dated February 15, 2023, Needham reiterated an Buy rating on this stock and revised its target price from $18 to $15.
Credo Technology Group Holding Ltd experienced fluctuations in its stock price throughout the past year between $13.38 and $31.30. Currently, Wall Street analysts expect the stock to reach $25.2 within the next 12 months. Credo Technology Group Holding Ltd [NASDAQ: CRDO] shares were valued at $31.94 at the most recent close of the market. An investor can expect a potential drop of -21.1% based on the average CRDO price forecast.
Analyzing the CRDO fundamentals
Trailing Twelve Months sales for Credo Technology Group Holding Ltd [NASDAQ:CRDO] were 192.97M which represents 89.42% growth. Gross Profit Margin for this corporation currently stands at 0.6% with Operating Profit Margin at -0.19%, Pretax Profit Margin comes in at -0.12%, and Net Profit Margin reading is -0.15%. To continue investigating profitability, this company’s Return on Assets is posted at -0.05, Equity is -0.06 and Total Capital is -0.07. 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 31.33 points at the first support level, and at 30.73 for the second support level. However, for the 1st resistance point, the stock is sitting at 32.66, and for the 2nd resistance point, it is at 33.38.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Credo Technology Group Holding Ltd [NASDAQ:CRDO] is 11.88. As well, the Quick Ratio is 11.30, while the Cash Ratio is 1.5. Considering the valuation of this stock, the price to sales ratio is 27.34, the price to book ratio is 9.71.
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, Chief Technology Officer Cheng Chi Fung sold 55000.0 shares on Jun 21 ’24.
