Credo Technology Group Holding Ltd [CRDO] stock prices are up 0.70% to $31.45 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The CRDO shares have gain 7.78% over the last week, with a monthly amount drifted -7.77%, and not 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 July 15, 2024, when TD Cowen reiterated its Buy rating and also boosted its price target to $40 from $35. Previously, TD Cowen upgraded its rating to Buy on June 25, 2024, and elevated its price target to $35. On February 28, 2024, TD Cowen reiterated its Market Perform rating and revised its price target to $24 on the stock. TD Cowen reiterated its Market Perform rating and increased its price target to $20 on November 30, 2023. Barclays initiated its recommendation with a Overweight and recommended $18 as its price target on October 02, 2023. TD Cowen reiterated a Market Perform rating for this stock on August 25, 2023, and upped its price target to $16. In a note dated February 28, 2023, Exane BNP Paribas initiated an Outperform rating and provided a target price of $13 on this stock.
The stock price of Credo Technology Group Holding Ltd [CRDO] has been fluctuating between $13.38 and $36.80 over the past year. Currently, Wall Street analysts expect the stock to reach $32.83 within the next 12 months. Credo Technology Group Holding Ltd [NASDAQ: CRDO] shares were valued at $31.45 at the most recent close of the market. An investor can expect a potential return of 4.39% based on the average CRDO price forecast.
Analyzing the CRDO fundamentals
The Credo Technology Group Holding Ltd [NASDAQ:CRDO] reported sales of 217.59M for trailing twelve months, representing a surge of 70.15%. Gross Profit Margin for this corporation currently stands at 0.59% with Operating Profit Margin at -0.17%, Pretax Profit Margin comes in at -0.09%, and Net Profit Margin reading is -0.12%. To continue investigating profitability, this company’s Return on Assets is posted at -0.04, Equity is -0.05 and Total Capital is -0.06. 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 30.93 points at the first support level, and at 30.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 31.80, and for the 2nd resistance point, it is at 32.16.
Ratios To Look Out For
It’s worth pointing out that Credo Technology Group Holding Ltd [NASDAQ:CRDO]’s Current Ratio is 7.81. On the other hand, the Quick Ratio is 7.36, and the Cash Ratio is 1.5. Considering the valuation of this stock, the price to sales ratio is 24.00, the price to book ratio is 9.44.
Transactions by insiders
Recent insider trading involved Laufman James, Officer, that happened on Sep 27 ’24 when 20000.0 shares were purchased. Chief Technology Officer, Cheng Chi Fung completed a deal on Sep 23 ’24 to sell 55000.0 shares. Meanwhile, Chief Technology Officer Cheng Chi Fung sold 55000.0 shares on Sep 13 ’24.
