In Wednesday’s Wall Street session, Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares traded at $47.53, up 9.62% from the previous session.
CRDO stock price is now -28.91% away from the 50-day moving average and 6.88% away from the 200-day moving average. The market capitalization of the company currently stands at $8.07B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $60, Susquehanna recently Upgraded its rating from Neutral to Positive for Credo Technology Group Holding Ltd (NASDAQ: CRDO). On December 17, 2024, Susquehanna recently initiated its ‘Neutral’ rating on the stock quoting a target price of $80, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, Cheng Chi Fung, Chief Technology Officer sold 55,000 shares of the company’s stock on Mar 10 ’25. The stock was sold for $2,186,389 at an average price of $39.75. Upon completion of the transaction, the Chief Technology Officer now directly owns 8,158,602 shares in the company, valued at $387.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 07 ’25, Director ACEVEDO SYLVIA sold 32,291 shares of the business’s stock. A total of $1,343,629 was realized by selling the stock at an average price of $41.61. This leaves the insider owning 21,433 shares of the company worth $1.02 million. A total of 13.89% of the company’s stock is owned by insiders.
During the past 12 months, Credo Technology Group Holding Ltd has had a low of $16.82 and a high of $86.69. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 7.67, and a quick ratio of 7.01. According to the stock market information, the enterprise value for the company is $7707578880, which is based on a 3469.34 price-to-earnings ratio, a 21.12 price-to-earnings-growth ratio, and a beta of 2.25. The fifty day moving average price for CRDO is $66.8633 and a two-hundred day moving average price translates $44.4687 for the stock.
The latest earnings results from Credo Technology Group Holding Ltd (NASDAQ: CRDO) was released for 2025-02-01. The net profit margin was 1.56% and return on equity was 0.89% for CRDO. The company reported revenue of $135.0 million for the quarter, compared to $53.06 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 154.44 percent.
