Deep Dive Into Credo Technology Group Stock: Analyst Perspectives (5 Ratings)
Throughout the last three months, 5 analysts have evaluated Credo Technology Group (NASDAQ:CRDO), offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 1 | 0 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 0 | 1 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 0 | 0 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $29.2, a high estimate of $35.00, and a low estimate of $22.00. Marking an increase of 19.67%, the current average surpasses the previous average price target of $24.40.
Breaking Down Analyst Ratings: A Detailed Examination
A comprehensive examination of how financial experts perceive Credo Technology Group is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Matt Ramsay | TD Cowen | Raises | Buy | $35.00 | $24.00 |
| Thomas O'Malley | Barclays | Raises | Overweight | $30.00 | $23.00 |
| Vivek Arya | B of A Securities | Raises | Underperform | $22.00 | $21.00 |
| Quinn Bolton | Needham | Raises | Buy | $29.00 | $26.00 |
| Richard Shannon | Craig-Hallum | Raises | Buy | $30.00 | $28.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Credo Technology Group. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Credo Technology Group compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Credo Technology Group's stock. This analysis reveals shifts in analysts' expectations over time.
To gain a panoramic view of Credo Technology Group's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Credo Technology Group analyst ratings.
All You Need to Know About Credo Technology Group
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 deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market.
Credo Technology Group: Delving into Financials
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Credo Technology Group's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 14.56% as of 30 April, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Credo Technology Group's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -17.24%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Credo Technology Group's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -1.95%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Credo Technology Group's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -1.75%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Credo Technology Group's debt-to-equity ratio is below the industry average. With a ratio of 0.02, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Analyst Ratings: What Are They?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.