Credo Technology Group Holding Ltd (CRDO) Receives a Rating Update from a Top Analyst
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According to TipRanks, Shannon is a top 100 analyst with an average return of 35.4% and a 54.29% success rate. Shannon covers the Technology sector, focusing on stocks such as IonQ, Navitas Semiconductor, and AXT.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Credo Technology Group Holding Ltd with a $92.55 average price target, representing a -4.87% downside. In a report released on July 9, Bank of America Securities also assigned a Buy rating to the stock with a $120.00 price target.
Based on Credo Technology Group Holding Ltd's latest earnings release for the quarter ending May 3, the company reported a quarterly revenue of $170.03 million and a net profit of $36.59 million. In comparison, last year the company earned a revenue of $60.78 million and had a GAAP net loss of $10.48 million
Based on the recent corporate insider activity of 150 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRDO in relation to earlier this year. Last month, Lip Bu Tan, a Director at CRDO sold 92,248.00 shares for a total of $8,403,136.08.
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