Credo Technology Group Holding LtdNASDAQ: CRDO

In the video clip below from a recent episode of  The AI Investor Podcast from 24/7 Wall St.

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.

SAN JOSE, Calif., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd (Credo) (NASDAQ: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency as data rates and corresponding bandwidth requirements increase throughout the data infrastructure market, today announced that Bill Brennan, President and CEO, and Dan Fleming, CFO, are scheduled to present at the following upcoming investor conference.

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.

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.

Purchase recommendation for Credo Technology stock based on increasing growth and expanding customer base. Recent results show strong growth in product revenue and improved margins. Credo Technology is attracting new hyperscale customers and is well-prepared for the growing demand in high-speed data center connectivity.