Credo Technology Group Holding Ltd [NASDAQ: CRDO] closed the trading session at $22.17. The company report on February 27, 2024 at 4:05 PM that Credo Technology Group Holding Ltd Reports Third Quarter of Fiscal Year 2024 Financial Results.
The stocks have a year to date performance of 13.87 percent and weekly performance of 0.91 percent. The stock has been moved at 42.94 percent over the last six months. The stock has performed 4.82 percent around the most recent 30 days and changed 14.69 percent over the most recent 3-months.
If compared to the average trading volume of 2.43M shares, CRDO reached to a volume of 5372085 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Credo Technology Group Holding Ltd [CRDO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRDO shares is $23.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRDO stock is a recommendation set at 1.55. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
TD Cowen have made an estimate for Credo Technology Group Holding Ltd shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on Feb-29-24. While these analysts kept the previous recommendation, TD Cowen raised their target price from $16 to $20. The new note on the price target was released on November 30, 2023, representing the official price target for Credo Technology Group Holding Ltd stock. Previously, the target price had yet another raise to $18, while Barclays analysts kept a Overweight rating on CRDO stock. On August 25, 2023, analysts increased their price target for CRDO shares from 14 to 16.
The Average True Range (ATR) for Credo Technology Group Holding Ltd is set at 1.08, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 20.32. The Price to Book ratio for the last quarter was 9.55, with the Price to Cash per share for the same quarter was set at 2.72.
CRDO stock trade performance evaluation
Credo Technology Group Holding Ltd [CRDO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.91. With this latest performance, CRDO shares gained by 4.82% in over the last four-week period, additionally plugging by 42.94% over the last 6 months – not to mention a rise of 114.41% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRDO stock in for the last two-week period is set at 54.71, with the RSI for the last a single of trading hit 52.64, and the three-weeks RSI is set at 55.84 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 20.59, while it was recorded at 22.47 for the last single week of trading, and 17.00 for the last 200 days.
Credo Technology Group Holding Ltd [CRDO]: An insightful look at the core fundamentals
Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.94 and a Current Ratio set at 12.72.
Earnings per share (EPS) analysis for Credo Technology Group Holding Ltd [CRDO] stock
With the latest financial reports released by the company, Credo Technology Group Holding Ltd posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRDO.
Credo Technology Group Holding Ltd [CRDO]: Institutional Ownership
The top three institutional holders of CRDO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CRDO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CRDO stock with ownership which is approximately 5.8325%.
