In the latest trading session, 10.01 million Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares changed hands as the company’s beta touched 2.27. With the company’s most recent per share price at $68.89 changing hands around $21.09 or 44.11% at last look, the market valuation stands at $11.44B. CRDO’s last price was a premium, traded about 25.39% off its 52-week high of $51.40. The share price had its 52-week low at $16.82, which suggests the last value was 75.58% up since then. When we look at Credo Technology Group Holding Ltd’s average trading volume, we note the 10-day average is 2.96 million shares, with the 3-month average coming to 2.73 million.
Analysts gave the Credo Technology Group Holding Ltd (CRDO) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.08. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CRDO as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Credo Technology Group Holding Ltd’s EPS for the current quarter is expected to be 0.18.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Instantly CRDO is in green as seen in intraday trades today. With action 46.35%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 253.81%, with the 5-day performance at 46.35% in the green. However, in the 30-day time frame, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is 70.38% up. Looking at the short shares, we see there were 6.6 million shares sold at short interest cover period of 2.71 days.
The consensus price target for the stock as assigned by Wall Street analysts is 38, meaning bulls need a downside of -81.29% from its recent market value. According to analyst projections, CRDO’s forecast low is 19 with 49 as the target high. To hit the forecast high, the stock’s price needs a 28.87% surge from its current level, while the stock would need to tank 72.42% for it to hit the projected low.
Credo Technology Group Holding Ltd (CRDO) estimates and forecasts
Data shows that the Credo Technology Group Holding Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 179.12% over the past 6 months, a 288.89% in annual growth rate that is considerably higher than the industry average of -2.80%. Year-over-year growth is forecast to reach 84.07% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 102.31M. 8 analysts are of the opinion that Credo Technology Group Holding Ltd’s revenue for the current quarter will be 120.94M. The company’s revenue for the corresponding quarters a year ago was 53.06M and 60.78M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 92.83%. The estimates for the next quarter sales put growth at 98.97%.
The 2024 estimates are for Credo Technology Group Holding Ltd earnings to increase by 434.16%, but the outlook for the next 5-year period is at 63.57% per year.
CRDO Dividends
Credo Technology Group Holding Ltd is expected to release its next quarterly earnings report in January.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 15.87% of Credo Technology Group Holding Ltd shares while 76.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.39%. There are 76.89% institutions holding the Credo Technology Group Holding Ltd stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 9.2574% of the shares, roughly 15.15 million CRDO shares worth $483.96 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 8.671% or 14.19 million shares worth $453.31 million as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Smallcap World Fund and Vanguard Total Stock Market Index Fund. With 5.01 shares estimated at $354.44 million under it, the former controlled 3.01% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.51% of the shares, roughly 4.17 shares worth around $295.24 million.
