In the preceding three months, 12 analysts have released ratings for Credo Technology Group (NASDAQ:CRDO), presenting a wide array of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 8 | 3 | 0 | 1 | 0 |
| Last 30D | 2 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 2 | 1 | 0 | 0 | 0 |
| 3M Ago | 4 | 1 | 0 | 1 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Credo Technology Group, presenting an average target of $46.17, a high estimate of $80.00, and a low estimate of $27.00. This upward trend is evident, with the current average reflecting a 45.05% increase from the previous average price target of $31.83.
Interpreting Analyst Ratings: A Closer Look
An in-depth analysis of recent analyst actions unveils how financial experts perceive Credo Technology Group. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Thomas O'Malley | Barclays | Raises | Overweight | $80.00 | $32.00 |
| Quinn Bolton | Needham | Raises | Buy | $70.00 | $43.00 |
| Vivek Arya | B of A Securities | Raises | Buy | $80.00 | $27.00 |
| Suji Desilva | Roth MKM | Raises | Buy | $45.00 | $35.00 |
| Vijay Rakesh | Mizuho | Raises | Outperform | $41.00 | $35.00 |
| Tore Svanberg | Stifel | Raises | Buy | $42.00 | $40.00 |
| Toshiya Hari | Goldman Sachs | Raises | Buy | $31.00 | $26.00 |
| Richard Shannon | Craig-Hallum | Raises | Buy | $38.00 | $30.00 |
| Vivek Arya | B of A Securities | Raises | Underperform | $27.00 | $25.00 |
| Suji Desilva | Roth MKM | Raises | Buy | $35.00 | $30.00 |
| Thomas O'Malley | Barclays | Raises | Overweight | $32.00 | $30.00 |
| Quinn Bolton | Needham | Raises | Buy | $33.00 | $29.00 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Credo Technology Group. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Credo Technology Group compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
For valuable insights into Credo Technology Group's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Credo Technology Group analyst ratings.
Discovering Credo Technology Group: A Closer Look
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.
Key Indicators: Credo Technology Group's Financial Health
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Credo Technology Group's revenue growth over a period of 3 months has been noteworthy. As of 31 July, 2024, the company achieved a revenue growth rate of approximately 70.15%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -15.98%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Credo Technology Group's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -1.75%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.53%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Credo Technology Group's debt-to-equity ratio is below the industry average at 0.03, reflecting a lower dependency on debt financing and a more conservative financial approach.
Analyst Ratings: Simplified
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
