In the last trading session, 1.55 million shares of the Credo Technology Group Holding Ltd (NASDAQ:CRDO) were traded, and its beta was 2.22. Most recently the company’s share price was $33.71, and it changed around $1.17 or 3.60% from the last close, which brings the market valuation of the company to $5.60B. CRDO currently trades at a discount to its 52-week high of $36.80, offering almost -9.17% off that amount. The share price’s 52-week low was $13.38, which indicates that the current value has risen by an impressive 60.31% since then. We note from Credo Technology Group Holding Ltd’s average daily trading volume that its 10-day average is 1.93 million shares, with the 3-month average coming to 2.32 million.

Credo Technology Group Holding Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.31. If we narrow it down even further, the data shows that 1 out of 12 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 0 recommended CRDO as a Hold, whereas 9 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 green trend with a performance of 3.60% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 33.80 on recent trading dayincreased the stock’s daily price by 0.27%. The company’s shares are currently up 73.14% year-to-date, but still up 12.52% over the last five days. On the other hand, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is 38.95% up in the 30-day period. We can see from the shorts that 6.98 million shares have been sold at a short interest cover period of 2.33 day(s).

The consensus price target as assigned by Wall Street analysts is $34, which translates to bulls needing to increase their stock price by 0.85% from its current value. Analyst projections state that CRDO is forecast to be at a low of $19 and a high of $40.

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 57.97 percent over the past six months and at a 288.89% annual growth rate that is well above the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 400.00% in revenue this quarter, and will report an increase of 175.00% in the next quarter. The year-over-year growth rate is expected to be 65.00%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 66.79M in revenue for the current quarter. 9 analysts expect Credo Technology Group Holding Ltd to make 85.94M in revenue for the current ending quarter.

Credo Technology Group Holding Ltd earnings are expected to increase by 277.67% in 2024, but the outlook is positive 63.57% per year for the next five years.

CRDO Dividends

Credo Technology Group Holding Ltd’s next quarterly earnings report is expected to be released in November.

Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 16.11% of Credo Technology Group Holding Ltd shares, and 74.93% of them are in the hands of institutional investors. The stock currently has a share float of 89.31%. Credo Technology Group Holding Ltd stock is held by 340.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.2574% of the shares, which is about 15.15 million shares worth $483.96 million.

BLACKROCK INC., with 8.671% or 14.19 million shares worth $453.31 million as of 2024-06-30, holds the second largest percentage of outstanding shares.