Which analyst expects Credo Technology Group Holding Ltd (CRDO) to perform well in the near future?

As of close of business last night, Credo Technology Group Holding Ltd’s stock clocked out at $17.08, up 9.00% from its previous closing price of $15.67. In other words, the price has increased by $+1.41 from its previous closing price. On the day, 3181722 shares were traded. CRDO stock price reached its highest trading level at $17.53 during the session, while it also had its lowest trading level at $15.64.

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To gain a deeper understanding of CRDO’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 6.10 and its Current Ratio is at 7.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Jan 19 when Brennan William Joseph sold 7,500 shares for $14.76 per share. The transaction valued at 110,706 led to the insider holds 4,237,500 shares of the business.

Cheng Chi Fung sold 800 shares of CRDO for $12,000 on Jan 18. The Chief Technology Officer now owns 11,383,602 shares after completing the transaction at $15.00 per share. On Jan 18, another insider, Brennan William Joseph, who serves as the Pres & Chief Executive Officer of the company, sold 15,000 shares for $14.93 each. As a result, the insider received 223,971 and left with 4,245,000 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 14.45 while its Price-to-Book (P/B) ratio in mrq is 7.24.

Stock Price History:

Over the past 52 weeks, CRDO has reached a high of $18.00, while it has fallen to a 52-week low of $8.61. The 50-Day Moving Average of the stock is 14.06, while the 200-Day Moving Average is calculated to be 12.76.

Shares Statistics:

It appears that CRDO traded 1.09M shares on average per day over the past three months and 1.35M shares per day over the past ten days. A total of 146.01M shares are outstanding, with a floating share count of 105.14M. Insiders hold about 10.60% of the company’s shares, while institutions hold 47.00% stake in the company. Shares short for CRDO as of Oct 13, 2022 were 10.63M with a Short Ratio of 8.05M, compared to 6.53M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 7.30% and a Short% of Float of 11.05%.

Earnings Estimates

As of right now, 8 analysts gave their recommendation on the stock of the company. The consensus estimate for the next quarter is $0.04, with high estimates of $0.06 and low estimates of $0.04.

Analysts are recommending an EPS of between $0.21 and $0.15 for the fiscal current year, implying an average EPS of $0.16. EPS for the following year is $0.48, with 8 analysts recommending between $0.51 and $0.46.

Revenue Estimates

A total of 8 analysts have provided revenue estimates for CRDO’s current fiscal year. The highest revenue estimate was $218.06M, while the lowest revenue estimate was $202.59M, resulting in an average revenue estimate of $207.98M. In the same quarter a year ago, actual revenue was $106.48M, up 95.30% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $315.12M in the next fiscal year. The high estimate is $338.48M and the low estimate is $303.23M. The average revenue growth estimate for next year is up 51.50% from the average revenue estimate for this year.