A share price of Credo Technology Group Holding Ltd [CRDO] is currently trading at $77.25, up 1.71%. An important factor to consider is whether the stock is rising or falling in short-term value. The CRDO shares have gain 15.25% over the last week, with a monthly amount glided 84.37%, 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.
Credo Technology Group Holding Ltd experienced fluctuations in its stock price throughout the past year between $16.82 and $76.53. 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 $77.25 at the most recent close of the market. An investor can expect a potential drop of -48.44% based on the average CRDO price forecast.
Analyzing the CRDO fundamentals
Trailing Twelve Months sales for Credo Technology Group Holding Ltd [NASDAQ:CRDO] were 245.59M which represents 63.58% growth. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.02.
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 74.78 points at the first support level, and at 72.30 for the second support level. However, for the 1st resistance point, the stock is sitting at 79.35, and for the 2nd resistance point, it is at 81.44.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Credo Technology Group Holding Ltd [NASDAQ:CRDO] is 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 58.39, the price to book ratio is 22.74.
Transactions by insiders
Recent insider trading involved Laufman James, Officer, that happened on Dec 16 ’24 when 10000.0 shares were purchased. Director, TAN LIP BU completed a deal on Dec 16 ’24 to sell 0.15 million shares. Meanwhile, Director TAN LIP BU sold 99100.0 shares on Dec 13 ’24.
