6 Analysts Have This To Say About Credo Technology Group
Portfolio Pulse from Benzinga Insights
Six analysts have recently provided their ratings on Credo Technology Group (NASDAQ:CRDO), with all six maintaining a bullish stance. Over the past three months, there has been a positive shift in sentiment, with the average 12-month price target for CRDO increasing by 23.24% to $23.17. Analysts from firms including Needham, Goldman Sachs, Stifel, and Mizuho have raised their price targets, reflecting optimism about the company's prospects. Despite this, CRDO faces challenges with a -14.28% revenue decline, a net margin of -15.04%, and an ROA of -1.65%, indicating potential difficulties in profitability and asset utilization. However, a strong ROE of -1.9% and a low debt-to-equity ratio of 0.04 suggest effective use of equity and a healthy balance sheet.
January 08, 2024 | 1:00 pm
News sentiment analysis
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POSITIVE IMPACT
Credo Technology Group has received unanimous bullish ratings from six analysts, with a significant increase in the average price target to $23.17. However, the company's recent financial performance shows challenges in revenue growth and profitability, which investors need to consider.
The unanimous bullish sentiment from analysts and the raised price targets suggest a positive short-term impact on CRDO's stock price. However, the financial challenges highlighted may temper investor enthusiasm, hence the importance score is not at the maximum. The confidence level reflects the clear analyst consensus and the recent positive shift in price targets.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100