While Credo Technology Group Holding Ltd has underperformed by -9.70%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CRDO rose by 275.94%, with highs and lows ranging from $75.32 to $16.82, whereas the simple moving average jumped by 125.57% in the last 200 days.
On December 03, 2024, BofA Securities Upgraded Credo Technology Group Holding Ltd (NASDAQ: CRDO) to Buy. A report published by TD Cowen on December 03, 2024, Reiterated its previous ‘Buy’ rating for CRDO. Needham also reiterated CRDO shares as ‘Buy’, quoting a target price of $70 on the company’s shares in a report dated December 03, 2024. TD Cowen Reiterated the rating as Buy on July 15, 2024, but set its price target from $35 to $40. TD Cowen June 25, 2024d its ‘Hold’ rating to ‘Buy’ for CRDO, as published in its report on June 25, 2024. TD Cowen’s report from February 28, 2024 suggests a price prediction of $24 for CRDO shares, giving the stock a ‘Market Perform’ rating. TD Cowen also rated the stock as ‘Market Perform’.
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Analysis of Credo Technology Group Holding Ltd (CRDO)
Further, the quarter-over-quarter increase in sales is 63.58%, showing a positive trend in the upcoming months.
One of the most important indicators of Credo Technology Group Holding Ltd’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -5.19% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.11, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and CRDO is recording 2.88M average volume. On a monthly basis, the volatility of the stock is set at 7.34%, whereas on a weekly basis, it is put at 10.68%, with a gain of 40.23% over the past seven days. Furthermore, long-term investors anticipate a median target price of $75.18, showing growth from the present price of $67.03, which can serve as yet another indication of whether CRDO is worth investing in or should be passed over.
How Do You Analyze Credo Technology Group Holding Ltd Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 19.43%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 75.99% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CRDO shares are owned by institutional investors to the tune of 75.99% at present.
