Credo Technology Group Holding Ltd (NASDAQ:CRDO) receives an average target price of $21.00 from analysts

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Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) received an average recommendation of “Buy” from the eight research companies that cover the business, Marketbeat.com reports. Seven investment analysts gave the stock a buy rating. The 12-month average price target among brokers who have rated the stock over the past year is $20.88.

A number of brokerages have commented on the CRDO. Needham & Company LLC began covering shares of Credo Technology Group in a Tuesday, February 22 report. They issued a “buy” rating and a target price of $20.00 for the company. Roth Capital raised its target price on Credo Technology Group from $20.00 to $25.00 in a Thursday, March 10 research report. Mizuho raised its target price on Credo Technology Group from $19.00 to $21.00 and gave the company a “buy” rating in a Thursday, March 10 research report. Craig Hallum assumed coverage of Credo Technology Group in a research report on Tuesday, February 22. They issued a “buy” rating and a target price of $19.00 on the stock. Finally, Goldman Sachs Group began covering Credo Technology Group in a research report on Tuesday, February 22. They issued a “buy” rating and a target price of $23.00 on the stock.

CRDO stock opened at $11.41 on Wednesday. The company has a 50-day moving average price of $14.56. Credo Technology Group has a 1 year minimum of $10.80 and a 1 year maximum of $18.00.

Credo Technology Group (NASDAQ:CRDO – Get Rating) last announced its results on Wednesday, March 9. The company reported EPS of $0.03 for the quarter, beating the Zacks consensus estimate of $0.01 ($0.01) by $0.04. The company posted revenue of $31.80 million in the quarter, versus a consensus estimate of $29.60 million. On average, research analysts expect Credo Technology Group to post -0.1 EPS for the current fiscal year.

About Credo Technology Group (Get a rating)

Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Malaysia, Hong Kong and globally. Its products include integrated circuits, active power cables and SerDes chips based on its serializer/deserializer and digital signal processor technologies.

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