Credo Technology Group Holding Ltd (NASDAQ:CRDO) is among the 10 Stocks ChatGPT Predicts Could Make You Wealthy in 3 Years. On June 10, Mizuho reiterated its Outperform rating on the stock with a price target of $290.
This is a reaffirmation of the firm’s adjustment on June 2, when it lifted the price target by $30 after the company reported solid results for the recently concluded quarter.
Credo Technology Group Holding Ltd posted a revenue of $437 million for Q4 2026, representing a 7.4% sequential and 157% year-over-year increase, helping it beat estimates of $433.3 million. Non-GAAP diluted net income per share came in at $1.16, again surpassing Wall Street’s expectations by 13 cents.
The company also shared an upbeat guidance for the first quarter of fiscal 2027, where it expects revenue in the range of $465 million to $475 million, above estimates of $460 million. Its adjusted gross margin projections of between 67% and 69% also surpass the 65% estimate.
Following the results, several other firms also raised their price targets on CRDO. These included BofA, Needham, J.P. Morgan, TD Cowen, and Jefferies, among others. As of the close of business on June 12, the stock is a Strong Buy with an average share price upside potential of 3%.
In other news, on May 28, the company completed its acquisition of DustPhotonics, which is set to enhance its optical connectivity portfolio with the inclusion of Silicon Photonics Photonic Integrated Circuits technology.
Credo Technology Group Holding Ltd is a holding company focused on providing high-speed solutions to break bandwidth barriers on wired connections in the data infrastructure market. The stock has gained 74% year-to-date as of the close on Friday.
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