I maintain a buy rating on Credo Technology Group. CRDO reported robust 1Q25 earnings, with a 70% y/y revenue increase and significant margin improvements. The long-term growth outlook remains strong, driven by increasing demand for faster data transmission and CRDO's dominant market position in active electrical cables.
Credo Technology Group Holding Ltd (NASDAQ:CRDO ) Q1 2025 Earnings Conference Call September 4, 2024 5:00 PM ET Company Participants Dan O'Neil - Vice President, Corporate Development and Investor Relations Bill Brennan - President and Chief Executive Officer Dan Fleming - Chief Financial Officer Conference Call Participants Toshiya Hari - Goldman Sachs Tore Svanberg - Stifel Suji Desilva - ROTH Capital Sean O'Loughlin - TD Cowen Karl Ackerman - BNP Paribas Thomas O'Malley - Barclays Quinn Bolton - Needham Richard Shannon - Craig-Hallum Operator Ladies and gentlemen thank you for standing by. At this time, all participants are in a listen-only mode.
Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.04 per share, in line with the Zacks Consensus Estimate.
IPO Stock Of The Week: AI stock Credo regained a key level this week with a bullish bounce, as the market continues to rebound.
Credo Technology is a leader in the high-speed connectivity market, with AI and data center expansions driving rapid business growth. I anticipate Credo doubling AI related revenue by FY25, with comprehensive Ethernet connectivity solutions positioning the company for significant growth. I'm initiating with a 'Buy' rating, with a one-year price target of $35 per share, expecting over 70% year-over-year revenue growth in Q1 FY25.
Predicting the future is a fool's errand. If you had asked me just five years ago what 2024 would look like, I would have gotten it laughably wrong.
Credo Technology won an upgrade to buy from a TD Cowen analyst, who cited an expected jump in revenue. Credo stock has advanced 40% in 2024 amid rising expectations.
Analysts predict 62% revenue growth for Credo in fiscal 2025, up from 5% this year, as AI servers drive demand for active electrical cables.
Credo Technology Group Holding Ltd (NASDAQ:CRDO ) Q4 2024 Earnings Conference Call May 29, 2024 5:00 PM ET Company Participants Dan O'Neil - VP-Corporate Development & IR Bill Brennan - CEO Dan Fleming - CFO Conference Call Participants Quinn Bolton - Needham Tore Svanberg - Stifel Thomas O'Malley - Barclays Vijay Rakesh - Mizuho Richard Shannon - Craig-Hallum Karl Ackerman - BNP Paribas Suji Desilva - ROTH Operator Ladies and gentlemen, thank you for standing by. At this time, all participants are in a listen-only mode.
Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.05 per share.