Vandita Jadeja
5 min read
Quick Read
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Credo (CRDO) earns a BUY rating with a $219 price target, implying 31% upside, backed by 19 of 20 analysts rating it a buy or strong buy.
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Credo trades at just 23x forward earnings despite 115% revenue growth, a steep discount to rivals Astera Labs (ALAB) at 40x and Marvell (MRVL) at 31x.
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Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Credo Technology Group didn’t make the cut. Enter your email to see the names that beat CRDO. The report is free. Enter your email and see if any of your stocks made the cut.
Wall Street is warming to Credo (NASDAQ:CRDO) even as the stock has pulled back. The 24/7 Wall St. price target for Credo is $218.63, which implies 30.58% upside from the $167.43 close.
24/7 Wall St. Price Target Summary
Our model rates Credo a buy, and we hold that view with high conviction. Analysts agree: 19 of 20 rate the stock a buy or strong buy.
Big funds have been adding too. In the June quarter, seven of 15 tracked filers bought shares and two opened new positions. Millennium Management, Renaissance Technologies and Balyasny each more than doubled their stakes.
A Record Quarter Met a 20% Monthly Slide
Shares fell 19.83% over the past month and 1.38% over the past week. They are still up 17.55% year to date. Credo trades 45.8% below its 52-week peak of $308.67 and 93.6% above its low of $86.48.
The business continues getting stronger. Fiscal Q1 2027 revenue grew 114.7% to $479 million, ahead of the $470.38 million estimate. Non-GAAP EPS of $1.20 beat the $1.17 consensus, the eighth consecutive EPS beat. Management guided Q2 revenue to $525 million to $535 million and expects more than 85% revenue growth for the full year.
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Why Didn’t CRDO Make The Top 10 List?
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Optics Could Send Credo Toward $333
In our bull case, Credo hits $333.49. Optics is the main driver. Management expects more than $600 million of optical revenue this fiscal year, with ZeroFlap optics, silicon photonics PICs and optical DSPs each exceeding $100 million.
