During the last three months, 10 analysts shared their evaluations of Credo Technology Group CRDO, revealing diverse outlooks from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 8 | 1 | 0 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 5 | 1 | 0 | 1 | 0 |
| 3M Ago | 2 | 0 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $35.4, a high estimate of $42.00, and a low estimate of $27.00. This current average has increased by 13.83% from the previous average price target of $31.10.
Investigating Analyst Ratings: An Elaborate Study
In examining recent analyst actions, we gain insights into 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 |
|---|---|---|---|---|---|
| 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 |
| Tore Svanberg | Stifel | Raises | Buy | $40.00 | $36.00 |
| Tore Svanberg | Stifel | Raises | Buy | $36.00 | $30.00 |
| Matt Ramsay | TD Cowen | Raises | Buy | $40.00 | $35.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Credo Technology Group. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect 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.
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.
Financial Milestones: Credo Technology Group's Journey
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by 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 70.15% as of 31 July, 2024. This reflects 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: Credo Technology Group's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -15.98%, the company may encounter 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): Credo Technology Group's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -1.53%, 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.
Understanding the Relevance of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts 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.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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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