DexCom earnings beat by $0.03, revenue topped estimates
Lam Yat Tung, the Chief Operating Officer of Credo Technology Group Holding Ltd (NASDAQ:CRDO), a technology company with a market capitalization of $8.8 billion, recently executed a series of stock sales totaling over $6.1 million. According to InvestingPro data, the stock has shown significant volatility, delivering a remarkable 137% return over the past year. These transactions, carried out on February 26, 2025, involved the sale of ordinary shares at prices ranging from $59.50 to $63.20 per share. The sales were part of a pre-arranged trading plan adopted in July 2024, and the shares were indirectly held by Zhan BVI Co Ltd. Following these transactions, Lam Yat Tung retains ownership of 2,815,621 shares. With the company’s upcoming earnings report due on March 4, 2025, InvestingPro analysis indicates the stock is currently overvalued, though analysts maintain a strong buy consensus with a high target of $90. Subscribers can access 16 additional ProTips and a comprehensive Pro Research Report for deeper insights into CRDO’s valuation and growth prospects.
In other recent news, Credo Technology Group Holding Ltd. has reported significant financial achievements and received positive analyst updates. The company posted a robust revenue growth of 64% year-over-year, reaching $72 million, which surpassed expectations and led to an upward revision of revenue forecasts for fiscal year 2025 from $316 million to $385 million. Analysts from TD Cowen, Needham, Stifel, and BofA Securities have all expressed confidence in Credo’s performance, with TD Cowen and Stifel both raising their price targets to $75, while Needham set theirs at $70, and BofA Securities increased theirs to $80.
Stifel noted that Credo’s October quarter revenue of $72 million was a 20.6% increase from the previous quarter, exceeding their estimates by 8.3%. The company’s January quarter revenue forecast has been significantly uplifted to a midpoint of $120 million, indicating a 66.6% sequential increase. BofA Securities upgraded Credo from Underperform to Buy, citing a strong earnings call and a revised fiscal year 2026/2027 EPS estimate upwards by 65% and 88%, respectively.
The analysts highlighted Credo’s Active Electrical Cable (AEC) product as a key driver of growth, particularly in AI networking applications, with the company expecting over 100% year-over-year revenue growth in FY2025. Credo’s recent earnings call also emphasized the launch of innovative products like 800 gigabit Zero Flap AECs and the company’s strategic focus on high-speed connectivity solutions. These developments have led to a reassessment of Credo’s market position and financial projections, with analysts showing optimism about the company’s future growth trajectory.
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