While Credo Technology Group Holding Ltd has underperformed by -8.63%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CRDO rose by 127.42%, with highs and lows ranging from $86.69 to $16.82, whereas the simple moving average jumped by 15.79% in the last 200 days.
On December 17, 2024, Susquehanna started tracking Credo Technology Group Holding Ltd (NASDAQ: CRDO) recommending Neutral. A report published by BofA Securities on December 03, 2024, Upgraded its rating to ‘Buy’ for CRDO. TD Cowen also reiterated CRDO shares as ‘Buy’, quoting a target price of $75 on the company’s shares in a report dated December 03, 2024. Needham Reiterated the rating as Buy on December 03, 2024, but set its price target from $43 to $70. TD Cowen resumed its ‘Buy’ rating for CRDO, as published in its report on July 15, 2024. TD Cowen’s report from June 25, 2024 suggests a price prediction of $35 for CRDO shares, giving the stock a ‘Buy’ rating. TD Cowen also rated the stock as ‘Market Perform’.
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.
Credo Technology Group Holding Ltd’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. 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.
The average volume for any stock is also a very valuable indicator of volatility, and CRDO has an average volume of 5.26M. On a monthly basis, the volatility of the stock is set at 10.36%, whereas on a weekly basis, it is put at 14.13%, with a loss of -16.28% over the past seven days. Furthermore, long-term investors anticipate a median target price of $85.85, showing growth from the present price of $50.42, 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?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 14.01%. 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 75.83% 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 75.83% at present.
