Throughout the last three months, 5 analysts have evaluated Credo Technology Group CRDO, offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing 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 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 1 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $31.2, a high estimate of $40.00, and a low estimate of $22.00. This upward trend is apparent, with the current average reflecting a 20.93% increase from the previous average price target of $25.80.
Breaking Down Analyst Ratings: A Detailed Examination
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 |
|---|---|---|---|---|---|
| Matt Ramsay | TD Cowen | Raises | Buy | $40.00 | $35.00 |
| 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 |
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 assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Credo Technology Group compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Credo Technology Group's stock. This comparison reveals trends in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Credo Technology Group's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Credo Technology Group analyst ratings.
Get to Know Credo Technology Group Better
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.
Credo Technology Group: Financial Performance Dissected
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.
Revenue Growth: Over the 3 months period, Credo Technology Group showcased positive performance, achieving a revenue growth rate of 89.42% as of 30 April, 2024. This reflects a substantial increase in the company's 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 standards, pointing towards difficulties in achieving strong profitability. With a net margin of -17.24%, the company may encounter challenges in effective cost control.
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: With a below-average debt-to-equity ratio of 0.03, Credo Technology Group adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Core of Analyst Ratings: What Every Investor Should Know
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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