AI-Summary – News For Tomorrow
Craig-Hallum analyst Richard Shannon reaffirmed a Buy rating on Credo Technology Group Holding Ltd (CRDO). Shannon, a top-rated analyst with a strong track record in the Technology sector, covers stocks like CRDO, Tower, and IonQ. CRDO has a Strong Buy analyst consensus, though the average price target of $163.89 suggests a slight downside. TR | OpenAI – 4o also reiterated a Buy rating with a higher target. CRDO reported impressive quarterly revenue of $223.07 million and a net profit of $63.4 million, significantly improved from the previous year. However, corporate insider sentiment is negative, with increased insider selling activity. Pantas Sutardja, a Director, recently sold a substantial amount of shares.
News summary provided by Gemini AI.
In a report released today, Richard Shannon from Craig-Hallum maintained a Buy rating on Credo Technology Group Holding Ltd. The company’s shares opened today at $172.85.
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According to TipRanks, Shannon is a top 100 analyst with an average return of 52.6% and a 54.36% success rate. Shannon covers the Technology sector, focusing on stocks such as Tower, Credo Technology Group Holding Ltd, and IonQ.
Credo Technology Group Holding Ltd has an analyst consensus of Strong Buy, with a price target consensus of $163.89, which is a -5.18% downside from current levels. In a report released on October 29, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $182.00 price target.
Based on Credo Technology Group Holding Ltd’s latest earnings release for the quarter ending August 2, the company reported a quarterly revenue of $223.07 million and a net profit of $63.4 million. In comparison, last year the company earned a revenue of $59.71 million and had a GAAP net loss of $9.54 million
Based on the recent corporate insider activity of 154 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. Earlier this month, Pantas Sutardja, a Director at CRDO sold 4,408.00 shares for a total of $649,739.20.
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