Credo Technology Group Holding Ltd [NASDAQ: CRDO] gained 12.75% or 4.08 points to close at $36.08 with a heavy trading volume of 3730066 shares.
The daily chart for CRDO points out that the company has recorded 64.22% gains over the past six months.
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If we look at the average trading volume of 2.17M shares, CRDO reached to a volume of 3730066 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $32.73 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 1.58. 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 Buy, with their previous recommendation back on July 15, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price from $24 to $35. The new note on the price target was released on June 25, 2024, representing the official price target for Credo Technology Group Holding Ltd stock. Previously, the target price had yet another raise from $20 to $24, while TD Cowen kept a Market Perform rating on CRDO stock. On November 30, 2023, analysts increased their price target for CRDO shares from 16 to 20.
The Average True Range (ATR) for Credo Technology Group Holding Ltd is set at 1.72, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 30.89. The Price to Book ratio for the last quarter was 10.97, with the Price to Cash per share for the same quarter was set at 2.48. Price to Free Cash Flow for CRDO in the course of the last twelve months was 348.75 with Quick ratio for the last quarter at 11.30.
Trading performance analysis for CRDO stock
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 25.58. With this latest performance, CRDO shares gained by 18.02% in over the last four-week period, additionally plugging by 64.22% over the last 6 months – not to mention a rise of 142.96% 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 75.26, with the RSI for the last a single of trading hit 84.24, and the three-weeks RSI is set at 69.98 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 29.42, while it was recorded at 32.13 for the last single week of trading, and 22.35 for the last 200 days.
Credo Technology Group Holding Ltd [CRDO]: A deeper dive into fundamental analysis
Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.30 and a Current Ratio set at 11.88.
Credo Technology Group Holding Ltd [CRDO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Credo Technology Group Holding Ltd posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Credo Technology Group Holding Ltd go to 20.00%.
An analysis of Institutional ownership at Credo Technology Group Holding Ltd [CRDO]
There are presently around $76.72%, or 96.58%% of CRDO stock, in the hands of institutional investors. The top three institutional holders of CRDO stocks are: VANGUARD GROUP INC with ownership of 15.15 million shares, which is approximately 9.2574%. BLACKROCK INC., holding 14.19 million shares of the stock with an approximate value of $$453.31 million in CRDO stocks shares; and BLACKROCK INC., currently with $$390.73 million in CRDO stock with ownership which is approximately 7.474%.
