Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) tanked in early trading on Tuesday, despite the company’s upbeat fiscal third-quarter report.
Here are the key analyst insights:
- Rosenblatt Securities analyst Mike Genovese maintained a Neutral rating, while reducing the price target from $170 to $125.
- Needham analyst Quinn Bolton reaffirmed a Buy rating and price target of $220.
Check out other analyst stock ratings.
Rosenblatt Securities: Credo Technology reported gross and operating margins of 68.6% and 49.6%, respectively, beating estimates by 300-400 basis points (bps) each, “likely driven by mix shift to 800G AECs from 400G,” Genovese said in a note. The company’s fourth-quarter guidance was solid, yet conservative, projecting revenue …