Credo Technology Group Holding Ltd. (CRDO) reported an earnings miss for its 4th quarter, ending 4/30/2023. Earnings per share came in at -$0.04, versus the expected -$0.04.
The reported revenue of $32.09 million represents a decrease of -40.87% compared to the previous quarter, and a decrease of -14.49% compared to the same period last year.
For the 1st quarter, analysts project earnings of -$0.04 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for CRDO stock.
What’s Next for Credo Technology Group Holding Ltd., Post-Earnings?
According to TipRanks, the average analyst consensus on CRDO stock is a Strong Buy. This consensus is based on 4 analyst ratings made in the past 3 months. Credo Technology Group Holding Ltd.’s average price target of $15.67 implies upside potential of 16.77% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings miss can signify negative movement ahead for a stock’s price. Currently, CRDO price is $13.42, indicating a 5-day drop of -2.19%.
About Credo Technology Group Holding Ltd.
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides innovative, secure, high-speed connectivity solutions that delivers improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market.
Learn more about CRDO financials here
