These Analysts Boost Their Forecasts On Credo Technology Group After Upbeat Results
These Analysts Boost Their Forecasts On Credo Technology Group After Upbeat Results
Credo Technology Group said it sees third-quarter revenue of $115 million to $125 million, versus market estimates of $86.042 million.Credo Technology Group Holding Ltd (NASDAQ:CRDO) reported better-than-expected second-quarter financial results and issued strong guidance on Monday.
Credo科技集團控股有限公司（NASDAQ:CRDO）週一發佈了好於預期的第二季度財務業績，併發出了強勁的指引。
Credo Technology reported quarterly earnings of 7 cents per share which beat the analyst consensus estimate of 5 cents per share. The company reported quarterly sales of $72.000 million which beat the analyst consensus estimate of $66.789 million.
Credo科技報告的每股季度收益爲7美分，超過了分析師共識預估的5美分。該公司季度銷售額爲7200萬美元，超過了分析師共識預估的6678.9萬美元。
Bill Brennan, Credo's President and Chief Executive Officer, stated, "In the fiscal second quarter ended November 2, 2024 Credo generated record revenue of $72.0 million, up 21% sequentially and 64% year over year. The second quarter was our most successful to date across our three main product lines and Credo delivered total product revenue of $69.1 million. For the past few quarters, we have anticipated an inflection point in our revenues during the second half of fiscal 2025. I am pleased to share that this turning point has arrived, and we are experiencing even greater demand than initially projected, driven by AI deployments and deepening customer relationships."
Credo的總裁兼首席執行官比爾·布倫南表示：「截至2024年11月2日的財政第二季度，Credo實現了7200萬的創紀錄營業收入，環比增長21%，同比增長64%。第二季度是我們在三大主要產品線中最成功的一段時間，Credo實現了總產品營業收入爲6910萬。在過去幾個季度，我們預計在2025財政年度下半年，營業收入將出現拐點。我很高興地告訴大家，這一轉折點已經到來，我們正在經歷比最初預期更大的需求，這得益於人工智能的部署和與客戶關係的加深。」
Credo Technology Group said it sees third-quarter revenue of $115 million to $125 million, versus market estimates of $86.042 million.
Credo科技集團表示，預計第三季度營業收入爲11500萬至12500萬美元，高於市場預估的8604.2萬美元。
Credo Technology Group shares gained 46.1% to trade at $69.82 on Tuesday.
Credo科技集團股價週二上漲46.1%，報69.82美元。
These analysts made changes to their price targets on Credo Technology Group following earnings announcement.
這些分析師在Credo科技集團發佈業績後對其價格目標進行了調整。
- Needham analyst Quinn Bolton maintained Credo Technology with a Buy and raised the price target from $43 to $70.
- B of A Securities analyst Vivek Arya upgraded the stock from Underperform to Buy and boosted the price target from $27 to $80.
- Barclays analyst Thomas O'Malley maintained Credo Technology with an Overweight rating and raised the price target from $32 to $80.
- Stifel analyst Tore Svanberg reiterated Credo Technology with a Buy and increased the price target from $50 to $75.
- Craig-Hallum analyst Richard Shannon maintained the stock with a Buy and raised the price target from $38 to $75.
- Needham分析師Quinn Bolton維持對Credo科技的買入評級，並將價格目標從43美元上調至70美元。
- 美國銀行證券分析師Vivek Arya將該股票評級從表現不佳升級至買入，並將價格目標從27美元提高到80美元。
- 巴克萊銀行分析師托馬斯·奧馬利維持了對Credo Technology的超配評級，並將價格目標從32美元提高至80美元。
- 斯蒂費爾分析師託雷·斯萬伯格重申了對Credo Technology的買入評級，並將價格目標從50美元提高至75美元。
- 克雷格-哈盧姆分析師理查德·香農維持了對該股的買入評級，並將價格目標從38美元提高至75美元。
Considering buying CRDO stock? Here's what analysts think:
考慮購買CRDO股票嗎？這是分析師的看法：
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譯文內容由第三人軟體翻譯。
