In today’s recent session, 0.49 million shares of the Credo Technology Group Holding Ltd (NASDAQ:CRDO) have been traded, and its beta is 2.20. Most recently the company’s share price was $44.11, and it changed around $0.17 or 0.39% from the last close, which brings the market valuation of the company to $7.33B. CRDO at last check was trading at a discount to its 52-week high of $48.94, offering almost -10.95% off that amount. The share price’s 52-week low was $16.82, which indicates that the recent value has risen by an impressive 61.87% since then. We note from Credo Technology Group Holding Ltd’s average daily trading volume that its 10-day average is 2.72 million shares, with the 3-month average coming to 2.63 million.
Credo Technology Group Holding Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.33. If we narrow it down even further, the data shows that 1 out of 16 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 0 recommended CRDO as a Hold, whereas 9 deemed it a Buy, and 1 rated it as Underweight. Credo Technology Group Holding Ltd is expected to report earnings per share of 0.05 for the current quarter.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Instantly CRDO has been showing a green trend so far today with a performance of 0.39% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 46.45 on recent trading dayincreased the stock’s daily price by 5.04%. The company’s shares are currently up 126.56% year-to-date, but still down -3.84% over the last five days. On the other hand, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is 11.11% up in the 30-day period. We can see from the shorts that 5.93 million shares have been sold at a short interest cover period of 2.69 day(s).
The consensus price target as assigned by Wall Street analysts is $38, which translates to bulls needing to decrease their stock price by -16.08% from its current value. Analyst projections state that CRDO is forecast to be at a low of $19 and a high of $45.
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 126.44 percent over the past six months and at a 288.89% annual growth rate that is well above the industry average of 19.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 410.00% in revenue this quarter, and will report an increase of 168.50% in the next quarter. The year-over-year growth rate is expected to be 65.89%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 66.81M in revenue for the current quarter. 9 analysts expect Credo Technology Group Holding Ltd to make 85.93M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 44.03M and 53.06M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 51.71%. Forecasts for the next quarter put sales growth at 61.96%.
Credo Technology Group Holding Ltd earnings are expected to increase by 295.90% 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 December.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 16.06% of Credo Technology Group Holding Ltd shares, and 76.86% of them are in the hands of institutional investors. The stock currently has a share float of 91.56%. Credo Technology Group Holding Ltd stock is held by 359.0 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.
Smallcap World Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 30, 2024. The former held 5.01 shares worth $220.33 million, making up 3.01% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.17 shares worth around $183.52 million, which represents about 2.51% of the total shares outstanding.
