Why Credo Technology Group Holding Ltd (NASDAQ: CRDO) Stock Shouldn’t Be Ignored In 2024

In the last trading session, 1.97 million shares of the Credo Technology Group Holding Ltd (NASDAQ:CRDO) were traded, and its beta was 2.06. Most recently the company’s share price was $17.32, and it changed around $0.4 or 2.36% from the last close, which brings the market valuation of the company to $2.83B. CRDO currently trades at a discount to its 52-week high of $23.90, offering almost -37.99% off that amount. The share price’s 52-week low was $7.20, which indicates that the current value has risen by an impressive 58.43% since then. We note from Credo Technology Group Holding Ltd’s average daily trading volume that its 3-month average coming to 2.17 million.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information

Instantly CRDO has showed a green trend with a performance of 2.36% 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 down -11.04% year-to-date, but still down -10.91% over the last five days. On the other hand, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is -19.89% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $20.5, which translates to bulls needing to increase their stock price by 15.51% from its current value. Analyst projections state that CRDO is forecast to be at a low of $15 and a high of $30.

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 18.55 percent over the past six months and at a 40.00% annual growth rate that is well above the industry average of 18.30%.

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.