At the time of writing, Credo Technology Group Holding Ltd [CRDO] stock is trading at $38.26, up 2.74%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CRDO shares have gain 17.47% over the last week, with a monthly amount glided 37.77%, 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 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.
For the past year, the stock price of Credo Technology Group Holding Ltd fluctuated between $13.38 and $37.29. Currently, Wall Street analysts expect the stock to reach $33.17 within the next 12 months. Credo Technology Group Holding Ltd [NASDAQ: CRDO] shares were valued at $38.26 at the most recent close of the market. An investor can expect a potential drop of -13.3% based on the average CRDO price forecast.
Analyzing the CRDO fundamentals
According to Credo Technology Group Holding Ltd [NASDAQ:CRDO], the company’s sales were 217.59M for trailing twelve months, which represents an 70.15% jump. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.03.
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 36.91 points at the first support level, and at 35.55 for the second support level. However, for the 1st resistance point, the stock is sitting at 39.31, and for the 2nd resistance point, it is at 40.35.
Ratios To Look Out For
It is important to note that Credo Technology Group Holding Ltd [NASDAQ:CRDO] has a current ratio of 7.81. Also, the Quick Ratio is 7.36, while the Cash Ratio stands at 1.5. Considering the valuation of this stock, the price to sales ratio is 29.20, the price to book ratio is 11.48.
Transactions by insiders
Recent insider trading involved WALDEN TECHNOLOGY VENTURES II, Director, that happened on Oct 11 ’24 when 100000.0 shares were purchased. Director, TAN LIP BU completed a deal on Oct 08 ’24 to sell 0.16 million shares. Meanwhile, Director TAN LIP BU sold 0.12 million shares on Oct 10 ’24.
