Stifel Nicolaus analyst Tore Svanberg maintained a Buy rating on Credo Technology Group Holding Ltd (CRDO – Research Report) today and set a price target of $24.00. The company’s shares closed yesterday at $19.25.
Svanberg covers the Technology sector, focusing on stocks such as Semtech, Maxlinear, and Silicon Laboratories. According to TipRanks, Svanberg has an average return of 15.8% and a 62.17% success rate on recommended stocks.
Credo Technology Group Holding Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $20.83, representing an 8.21% upside. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $21.00 price target.
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Based on Credo Technology Group Holding Ltd’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $35.1 million and a GAAP net loss of $11.7 million. In comparison, last year the company earned a revenue of $46.47 million and had a GAAP net loss of $73 thousand
Based on the recent corporate insider activity of 105 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRDO in relation to earlier this year.
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Credo Technology Group Holding Ltd (CRDO) Company Description:
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides innovative, secure, high-speed connectivity solutions that delivers improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market.
Read More on CRDO:
- Credo Technology Group Holding Ltd. Earnings Update: Did it Beat Estimate Forecasts?
- Credo Technology Group Holding Ltd Reports Second Quarter of Fiscal Year 2024 Financial Results
- Credo Technology Group options imply 10.2% move in share price post-earnings
- CRDO Earnings this Week: How Will it Perform?
- Credo Technology CEO Brennan sells 89,921 ordinary shares
