Credo Technology Group (CRDO) Stock Forecast, Price Target & Predictions
CRDO Stock Forecast
Credo Technology Group stock forecast is as follows: an average price target of $32.83 (represents a 20.52% upside from CRDO’s last price of $27.24) and a rating consensus of 'Buy', based on 5 wall street analysts offering a 1-year stock forecast.
CRDO Price Target
The average price target for Credo Technology Group (CRDO) is $32.83 based on 1-year price targets from 5 Wall Street analysts in the past 3 months, with a price target range of $40.00 to $19.00. This represents a potential 20.52% upside from CRDO's last price of $27.24.
CRDO Analyst Ratings
According to 5 Wall Street analysts, Credo Technology Group's rating consensus is 'Buy'. The analyst rating breakdown for CRDO stock is 0 'Strong Buy' (0.00%), 5 'Buy' (100.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Credo Technology Group Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Sep 05, 2024 | Richard Shannon | Craig-Hallum | $38.00 | $31.30 | 21.41% | 39.50% |
| Sep 05, 2024 | Quinn Bolton | Needham | $33.00 | $25.84 | 27.73% | 21.15% |
| Sep 05, 2024 | Tom O'Malley | Barclays | $32.00 | $31.30 | 2.24% | 17.47% |
| Sep 03, 2024 | Vijay Rakesh | Mizuho Securities | $35.00 | $31.63 | 10.65% | 28.49% |
| Sep 03, 2024 | Tore Svanberg | Stifel Nicolaus | $40.00 | $34.91 | 14.58% | 46.84% |
| Jul 18, 2024 | Tore Svanberg | Stifel Nicolaus | $36.00 | $30.45 | 18.23% | 32.16% |
| May 30, 2024 | Quinn Bolton | Needham | $29.00 | $20.22 | 43.42% | 6.46% |
| May 30, 2024 | Tom O'Malley | Barclays | $30.00 | $20.22 | 48.37% | 10.13% |
| Apr 15, 2024 | Richard Shannon | Craig-Hallum | $30.00 | $21.23 | 41.34% | 10.13% |
| Jun 01, 2023 | Vijay Rakesh | Mizuho Securities | $18.00 | $16.37 | 9.96% | -33.92% |
The latest Credo Technology Group stock forecast, released on Sep 05, 2024 by Richard Shannon from Craig-Hallum, set a price target of $38.00, which represents a 21.41% increase from the stock price at the time of the forecast ($31.30), and a 39.50% increase from CRDO last price ($27.24).
Credo Technology Group Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 5 | 6 | 9 |
| Avg Price Target | $35.60 | $35.67 | $33.67 |
| Last Closing Price | $27.24 | $27.24 | $27.24 |
| Upside/Downside | 30.69% | 30.95% | 23.60% |
In the current month, the average price target of Credo Technology Group stock is $35.60, according to 5 Wall Street analysts offering twelve months forecast. The average price target represents a 30.69% increase as opposed to Credo Technology Group's last price of $27.24. This month's average price target is down -0.20% compared to last quarter, and up 5.73% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Sep 16, 2024 | Cowen & Co. | Buy | Buy | Hold |
| Sep 05, 2024 | Craig-Hallum | Buy | Buy | Hold |
| Sep 05, 2024 | Needham | Buy | Buy | Hold |
| Sep 05, 2024 | Barclays | Overweight | Overweight | Hold |
| Jul 15, 2024 | Cowen & Co. | Buy | Buy | Hold |
| Jun 25, 2024 | Cowen & Co. | Outperform | Buy | Upgrade |
| May 30, 2024 | Needham | Buy | Buy | Hold |
| May 30, 2024 | Barclays | Overweight | Overweight | Hold |
| May 30, 2024 | Bank of America Securities | Underperform | Underperform | Hold |
| Apr 15, 2024 | Craig-Hallum | Buy | Buy | Hold |
Credo Technology Group's last stock rating was published by Cowen & Co. on Sep 16, 2024. The company gave CRDO a "Buy" rating, the same as its previous rate.
Credo Technology Group Financial Forecast
Credo Technology Group Revenue Forecast
| May 27 | Feb 27 | Nov 26 | Aug 26 | May 26 | Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Jul 22 | Apr 22 | Jan 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $46.47M | $37.53M | $31.80M |
| Avg Forecast | $159.00M | $148.00M | $140.00M | $133.00M | $133.36M | $127.16M | $119.71M | $112.30M | $107.11M | $87.15M | $67.15M | $59.48M | $60.82M | $51.91M | $42.66M | $34.27M | $31.26M | $54.35M | $50.74M | $45.70M | $36.35M | $29.66M |
| High Forecast | $164.01M | $152.66M | $144.41M | $137.19M | $137.56M | $131.16M | $123.49M | $115.84M | $110.49M | $87.62M | $69.26M | $61.36M | $62.73M | $53.54M | $44.20M | $35.35M | $32.24M | $56.06M | $52.34M | $46.12M | $37.74M | $30.35M |
| Low Forecast | $157.01M | $146.15M | $138.25M | $131.34M | $131.69M | $125.57M | $118.22M | $110.90M | $105.77M | $86.68M | $66.31M | $58.74M | $60.06M | $51.26M | $41.11M | $33.85M | $30.87M | $53.67M | $50.10M | $45.13M | $35.08M | $29.11M |
| # Analysts | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 5 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.02% | 1.03% | 1.07% |
Credo Technology Group's average Quarter revenue forecast for Nov 22 based on 1 analysts is $50.74M, with a low forecast of $50.10M, and a high forecast of $52.34M. CRDO's average Quarter revenue forecast represents a 9.19% increase compared to the company's last Quarter revenue of $46.47M (Jul 22).
Credo Technology Group EBITDA Forecast
| May 27 | Feb 27 | Nov 26 | Aug 26 | May 26 | Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Jul 22 | Apr 22 | Jan 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 5 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $1.42M | $-1.67M | $731.00K |
| Avg Forecast | $-19.85M | $-18.48M | $-17.48M | $-16.61M | $-16.65M | $-15.88M | $-14.95M | $-14.02M | $-13.37M | $-10.88M | $-8.38M | $-7.43M | $-7.59M | $-6.48M | $-5.33M | $-4.28M | $-3.90M | $-6.79M | $-6.34M | $-5.71M | $-4.65M | $-3.79M |
| High Forecast | $-19.60M | $-18.25M | $-17.26M | $-16.40M | $-16.44M | $-15.68M | $-14.76M | $-13.85M | $-13.21M | $-10.82M | $-8.28M | $-7.33M | $-7.50M | $-6.40M | $-5.13M | $-4.23M | $-3.85M | $-6.70M | $-6.26M | $-5.64M | $-4.49M | $-3.72M |
| Low Forecast | $-20.48M | $-19.06M | $-18.03M | $-17.13M | $-17.18M | $-16.38M | $-15.42M | $-14.46M | $-13.80M | $-10.94M | $-8.65M | $-7.66M | $-7.83M | $-6.69M | $-5.52M | $-4.41M | $-4.03M | $-7.00M | $-6.53M | $-5.76M | $-4.83M | $-3.88M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.25% | 0.36% | -0.19% |
1 analysts predict CRDO's average Quarter EBITDA for Nov 22 to be $-6.34M, with a high of $-6.26M and a low of $-6.53M. This is -546.77% lower than Credo Technology Group's previous annual EBITDA (Jul 22) of $1.42M.
Credo Technology Group Net Income Forecast
| May 27 | Feb 27 | Nov 26 | Aug 26 | May 26 | Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Jul 22 | Apr 22 | Jan 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 5 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-73.00K | $-5.36M | $-144.00K |
| Avg Forecast | $46.24M | $42.94M | $39.63M | $36.33M | $36.95M | $34.47M | $31.79M | $28.07M | $25.67M | $17.27M | $7.81M | $6.52M | $8.55M | $4.94M | $-495.42K | $-5.14M | $-6.42M | $6.42M | $5.16M | $4.91M | $626.85K | $-2.09M |
| High Forecast | $48.13M | $44.70M | $41.26M | $37.82M | $38.46M | $35.88M | $33.09M | $29.22M | $26.72M | $17.97M | $8.13M | $6.79M | $8.90M | $5.15M | $495.42K | $-5.05M | $-6.32M | $6.69M | $5.37M | $4.97M | $657.89K | $-2.04M |
| Low Forecast | $45.49M | $42.24M | $38.99M | $35.74M | $36.35M | $33.91M | $31.27M | $27.62M | $25.26M | $15.54M | $7.68M | $6.42M | $8.42M | $4.86M | $-1.49M | $-5.35M | $-6.69M | $6.32M | $5.08M | $4.83M | $598.30K | $-2.15M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.01% | -8.54% | 0.07% |
Credo Technology Group's average Quarter net income forecast for undefined is $NaN, with a range of $NaN to $NaN. CRDO's average Quarter net income forecast represents a NaN% decrease compared to the company's last Quarter net income of $NaN (undefined).
Credo Technology Group SG&A Forecast
| May 27 | Feb 27 | Nov 26 | Aug 26 | May 26 | Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Jul 22 | Apr 22 | Jan 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 5 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $11.20M | $11.51M | $8.57M |
| Avg Forecast | $53.93M | $50.20M | $47.49M | $45.11M | $45.23M | $43.13M | $40.61M | $38.09M | $36.33M | $29.56M | $22.78M | $20.18M | $20.63M | $17.61M | $14.47M | $11.63M | $10.60M | $18.43M | $17.21M | $15.50M | $12.58M | $10.26M |
| High Forecast | $55.63M | $51.78M | $48.98M | $46.54M | $46.66M | $44.49M | $41.89M | $39.29M | $37.48M | $29.72M | $23.49M | $20.81M | $21.28M | $18.16M | $14.99M | $11.99M | $10.94M | $19.02M | $17.75M | $15.64M | $13.06M | $10.50M |
| Low Forecast | $53.26M | $49.57M | $46.89M | $44.55M | $44.67M | $42.59M | $40.10M | $37.62M | $35.88M | $29.40M | $22.49M | $19.93M | $20.37M | $17.39M | $13.95M | $11.48M | $10.47M | $18.20M | $17.00M | $15.31M | $12.14M | $10.07M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.72% | 0.91% | 0.84% |
Credo Technology Group's average Quarter SG&A projection for Nov 22 is $17.21M, based on 1 Wall Street analysts, with a range of $17.00M to $17.75M. The forecast indicates a 53.69% rise compared to CRDO last annual SG&A of $11.20M (Jul 22).
Credo Technology Group EPS Forecast
| May 27 | Feb 27 | Nov 26 | Aug 26 | May 26 | Feb 26 | Nov 25 | Aug 25 | May 25 | Feb 25 | Nov 24 | Aug 24 | May 24 | Feb 24 | Nov 23 | Aug 23 | May 23 | Feb 23 | Nov 22 | Jul 22 | Apr 22 | Jan 22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 2 | 5 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-0.00 | $-0.06 | $-0.00 |
| Avg Forecast | $0.28 | $0.26 | $0.24 | $0.22 | $0.22 | $0.21 | $0.19 | $0.17 | $0.16 | $0.10 | $0.05 | $0.04 | $0.05 | $0.03 | $-0.00 | $-0.03 | $-0.04 | $0.04 | $0.03 | $0.03 | - | $-0.01 |
| High Forecast | $0.29 | $0.27 | $0.25 | $0.23 | $0.23 | $0.22 | $0.20 | $0.18 | $0.16 | $0.11 | $0.05 | $0.04 | $0.05 | $0.03 | - | $-0.03 | $-0.04 | $0.04 | $0.03 | $0.03 | - | $-0.01 |
| Low Forecast | $0.28 | $0.26 | $0.24 | $0.22 | $0.22 | $0.21 | $0.19 | $0.17 | $0.15 | $0.09 | $0.05 | $0.04 | $0.05 | $0.03 | $-0.01 | $-0.03 | $-0.04 | $0.04 | $0.03 | $0.03 | - | $-0.01 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.02% | -16.16% | 0.16% |
According to undefined Wall Street analysts, Credo Technology Group's projected average Quarter EPS for undefined is $NaN, with a low estimate of $NaN and a high estimate of $NaN. This represents a NaN% decrease compared to CRDO previous annual EPS of $NaN (undefined).
Credo Technology Group Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| VIAV | Viavi Solutions | $8.37 | $12.95 | 54.72% | Buy |
| CLFD | Clearfield | $39.89 | $61.60 | 54.42% | Buy |
| NOK | Nokia Oyj | $4.19 | $6.35 | 51.55% | Buy |
| AAOI | Applied Optoelectronics | $13.58 | $17.38 | 27.98% | Buy |
| LITE | Lumentum | $58.37 | $74.60 | 27.81% | Buy |
| EXTR | Extreme Networks | $15.19 | $19.33 | 27.25% | Buy |
| CSCO | Cisco Systems | $50.61 | $62.13 | 22.76% | Buy |
| CRDO | Credo Technology Group | $27.24 | $32.83 | 20.52% | Buy |
| CIEN | Ciena | $56.44 | $64.74 | 14.71% | Buy |
| INFN | Infinera | $6.66 | $6.67 | 0.15% | Buy |
| ZBRA | Zebra | $354.52 | $354.00 | -0.15% | Hold |
| JNPR | Juniper Networks | $39.03 | $35.47 | -9.12% | Buy |
| MSI | Motorola Solutions | $438.91 | $344.83 | -21.43% | Buy |
| UI | Ubiquiti | $207.16 | $104.00 | -49.80% | Buy |
CRDO Forecast FAQ
Is Credo Technology Group a good buy?
Yes, according to 5 Wall Street analysts, Credo Technology Group (CRDO) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 5 'Buy' recommendations, accounting for 100.00% of CRDO's total ratings.
What is CRDO's price target?
Credo Technology Group (CRDO) average price target is $32.83 with a range of $19 to $40, implying a 20.52% from its last price of $27.24. The data is based on 5 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Credo Technology Group stock go up soon?
According to Wall Street analysts' prediction for CRDO stock, the company can go up by 20.52% (from the last price of $27.24 to the average price target of $32.83), up by 46.84% based on the highest stock price target, and down by -30.25% based on the lowest stock price target.
Can Credo Technology Group stock reach $40?
CRDO's average twelve months analyst stock price target of $32.83 does not support the claim that Credo Technology Group can reach $40 in the near future.
What is Credo Technology Group's current price target trend?
5 Wall Street analysts forecast a $35.6 price target for Credo Technology Group (CRDO) this month, up 30.69% from its last price of $27.24. Compared to the last 3 and 12 months, the average price target increased by 30.95% and increased by 23.60%, respectively.
Did the CRDO's actual financial results beat the analysts' financial forecasts?
Based on Credo Technology Group's last annual report (Apr 2022), the company's revenue was $106.48M, beating the average analysts forecast of $66.01M by 61.31%. Apple's EBITDA was $-10.907M, beating the average prediction of $-8.442M by 29.20%. The company's net income was $-22.176M, beating the average estimation of $-1.463M by 1416.15%. Apple's SG&A was $34.9M, beating the average forecast of $22.84M by 52.81%. Lastly, the company's EPS was $-0.25, beating the average prediction of $-0.00875 by 2757.14%. In terms of the last quarterly report (Jul 2022), Credo Technology Group's revenue was $46.47M, beating the average analysts' forecast of $45.7M by 1.67%. The company's EBITDA was $1.42M, missing the average prediction of $-5.706M by -124.85%. Credo Technology Group's net income was $-73K, missing the average estimation of $4.91M by -101.49%. The company's SG&A was $11.2M, missing the average forecast of $15.5M by -27.76%. Lastly, the company's EPS was $-0.0005, missing the average prediction of $0.03 by -101.67%