"CEO Bill Brennan stated on the Q3 call: "From fiscal '24 to fiscal '25, we more than doubled revenue. And for fiscal '25 to the current year fiscal '26, we expect to triple revenue on top of that. That represents greater than 6x growth in just 2 years.""
"The stock sits roughly 52% below its 52-week high of $213.80, suggesting the YTD selloff reflects broad market pressure rather than company-specific deterioration."
"The price target is built on a weighted blend of trailing P/E, forward P/E, and analyst consensus, adjusted through our proprietary 247Factor."
"Applying the 1.183 adjustment factor to the weighted base price of $105.80 yields our price target of $125.16."
Credo Technology has experienced remarkable revenue growth, reporting $407 million in Q3 FY2026, a 201.49% increase year-over-year. Despite this success, the stock is down 28.79% year-to-date, trading at $102.46, significantly below its 52-week high of $213.80. The price target of $125.16 suggests a 22.15% upside, supported by strong fundamentals and a high confidence level. The company's growth trajectory indicates potential for further revenue increases, with Q4 guidance suggesting continued expansion.
Read at 24/7 Wall St.
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