Nucor earnings beat by $0.08, revenue fell short of estimates
Credo Technology Group Holding (NASDAQ:CRDO) Ltd has reached a significant milestone as its stock hit an all-time high of 103.38 USD, with impressive financial metrics including a 64.8% gross profit margin and revenue growth of 126.3% in the latest twelve months. According to InvestingPro analysis, the stock appears overvalued at current levels. This remarkable achievement reflects the company’s impressive growth trajectory, with its stock price soaring by 242.98% over the past year. The surge in value underscores investor confidence in Credo Technology’s market strategies and future prospects, supported by nine analysts revising their earnings estimates upward. As the company continues to innovate and expand its market presence, the stock’s performance highlights its potential for continued success in the technology sector. For deeper insights into Credo’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Credo Technology Group Holding Ltd. reported a strong financial performance with a 25.9% quarter-over-quarter revenue increase, surpassing estimates by 6.3%. The company’s non-GAAP earnings per share reached $0.35, exceeding expectations by $0.08. Analysts from Stifel raised their price target for Credo Technology to $80, maintaining a Buy rating due to the company’s optimistic outlook. Mizuho (NYSE:MFG) also adjusted their price target upwards to $98, citing growth in data center trends and maintaining an Outperform rating. Meanwhile, TD Cowen raised their target to $95, highlighting Credo’s potential in high-speed connectivity for datacenter AI applications. Noble Capital reiterated an Outperform rating with a $14 price target, noting Credo’s valuation is lower than industry peers, suggesting growth potential. Credo’s fiscal 2026 revenue is projected to exceed $800 million, marking an 85% year-over-year increase. This growth is driven by the expansion of the AEC program and advancements in Optical DSPs and Line Card PHYs.
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