A share price of Credo Technology Group Holding Ltd [CRDO] is currently trading at $44.35, up 5.97%. 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 10.52% over the last week, with a monthly amount glided 31.56%, 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.
Credo Technology Group Holding Ltd experienced fluctuations in its stock price throughout the past year between $14.56 and $42.92. Currently, Wall Street analysts expect the stock to reach $35.71 within the next 12 months. Credo Technology Group Holding Ltd [NASDAQ: CRDO] shares were valued at $44.35 at the most recent close of the market. An investor can expect a potential drop of -19.48% based on the average CRDO price forecast.
Analyzing the CRDO fundamentals
Trailing Twelve Months sales for Credo Technology Group Holding Ltd [NASDAQ:CRDO] were 217.59M which represents 70.15% growth. 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 43.34 points at the first support level, and at 42.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 45.09, and for the 2nd resistance point, it is at 45.83.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Credo Technology Group Holding Ltd [NASDAQ:CRDO] is 7.81. As well, the Quick Ratio is 7.36, while the Cash Ratio is 1.5. Considering the valuation of this stock, the price to sales ratio is 33.85, the price to book ratio is 13.31.
Transactions by insiders
Recent insider trading involved Cheng Chi Fung, Chief Technology Officer, that happened on Nov 01 ’24 when 55000.0 shares were sold. Director, Sutardja, Pantas completed a deal on Nov 01 ’24 to sell 1875.0 shares. Meanwhile, Director PANTAS SUTARDJA bought 1875.0 shares on Nov 01 ’24.
