At the time of writing, Credo Technology Group Holding Ltd [CRDO] stock is trading at $74.23, up 5.44%. An important factor to consider is whether the stock is rising or falling in short-term value. The CRDO shares have gain 51.61% over the last week, with a monthly amount glided 67.37%, 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 December 03, 2024, when BofA Securities upgraded its rating to a Buy but kept the price target unchanged to $80 for it. Previously, TD Cowen reaffirmed its Buy rating on December 03, 2024, and elevated its price target to $75. On December 03, 2024, Needham reiterated its Buy rating and revised its price target to $70 on the stock. TD Cowen reiterated its Buy rating and increased its price target to $40 on July 15, 2024. TD Cowen upgraded its rating to a Buy and raised its price target to $35 on June 25, 2024. TD Cowen reiterated a Market Perform rating for this stock on February 28, 2024, and upped its price target to $24. In a note dated November 30, 2023, TD Cowen reiterated an Market Perform rating on this stock and boosted its target price from $16 to $20.
For the past year, the stock price of Credo Technology Group Holding Ltd fluctuated between $16.82 and $75.30. Currently, Wall Street analysts expect the stock to reach $39.83 within the next 12 months. Credo Technology Group Holding Ltd [NASDAQ: CRDO] shares were valued at $74.23 at the most recent close of the market. An investor can expect a potential drop of -46.34% 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 245.59M for trailing twelve months, which represents an 63.58% jump. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at -0.15%, Pretax Profit Margin comes in at -0.07%, and Net Profit Margin reading is -0.1%. To continue investigating profitability, this company’s Return on Assets is posted at -0.04, Equity is -0.04 and Total Capital is -0.06. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.02.
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 71.05 points at the first support level, and at 67.87 for the second support level. However, for the 1st resistance point, the stock is sitting at 76.36, and for the 2nd resistance point, it is at 78.50.
Ratios To Look Out For
It is important to note that Credo Technology Group Holding Ltd [NASDAQ:CRDO] has a current ratio of 10.84. On the other hand, the Quick Ratio is 10.11, and the Cash Ratio is 4.82. Considering the valuation of this stock, the price to sales ratio is 53.30, the price to book ratio is 21.85.
Transactions by insiders
Recent insider trading involved WALDEN TECHNOLOGY VENTURES II, Director, that happened on Dec 06 ’24 when 0.2 million shares were purchased. Officer, William Joseph Brennan completed a deal on Dec 05 ’24 to buy 0.14 million shares. Meanwhile, Director WALDEN TECHNOLOGY VENTURES II bought 3799.0 shares on Dec 05 ’24.
