In the last trading session, 1.77 million shares of the Credo Technology Group Holding Ltd (NASDAQ:CRDO) were traded, and its beta was 1.97. Most recently the company’s share price was $21.19, and it changed around -$0.01 or -0.05% from the last close, which brings the market valuation of the company to $3.46B. CRDO currently trades at a discount to its 52-week high of $23.90, offering almost -12.79% off that amount. The share price’s 52-week low was $7.20, which indicates that the current value has risen by an impressive 66.02% since then. We note from Credo Technology Group Holding Ltd’s average daily trading volume that its 10-day average is 1.75 million shares, with the 3-month average coming to 2.26 million.
Credo Technology Group Holding Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.46. If we narrow it down even further, the data shows that 1 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended CRDO as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Credo Technology Group Holding Ltd is expected to report earnings per share of $0.05 for the current quarter.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Instantly CRDO has showed a red trend with a performance of -0.05% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 8.83% year-to-date, but still down -1.99% over the last five days. On the other hand, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is -4.42% down in the 30-day period. We can see from the shorts that 9.99 million shares have been sold at a short interest cover period of 4.05 day(s).
The consensus price target as assigned by Wall Street analysts is $17.33, which translates to bulls needing to decrease their stock price by -22.27% from its current value. Analyst projections state that CRDO is forecast to be at a low of $15 and a high of $19.
Credo Technology Group Holding Ltd (CRDO) estimates and forecasts
Credo Technology Group Holding Ltd share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 40.33 percent over the past six months and at a 40.00% annual growth rate that is well above the industry average of 16.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 225.00% in revenue this quarter, and will report an increase of 233.30% in the next quarter. The year-over-year growth rate is expected to be 4.50%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $60.72 million in revenue for the current quarter. 9 analysts expect Credo Technology Group Holding Ltd to make $58.42 million in revenue for the quarter ending Jul 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 89.20%.
Credo Technology Group Holding Ltd earnings are expected to increase by 40.16% in 2024, but the outlook is positive 20.00% per year for the next five years.
CRDO Dividends
Credo Technology Group Holding Ltd’s next quarterly earnings report is expected to be released around May 29 and June 03.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 20.75% of Credo Technology Group Holding Ltd shares, and 71.22% of them are in the hands of institutional investors. The stock currently has a share float of 89.87%. Credo Technology Group Holding Ltd stock is held by 251 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.57% of the shares, which is about 13.99 million shares worth $296.48 million.
Blackrock Inc., with 7.48% or 12.21 million shares worth $258.67 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
Smallcap World Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 5.15 million shares worth $109.1 million, making up 3.15% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.01 million shares worth around $84.89 million, which represents about 2.45% of the total shares outstanding.
