Credo Technology Group shares jump 13% amid strong earnings and analyst upgrades

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) rose 13.3% on Thursday, reaching a intraday high of $201.35 and closing at $201.08, after trading as high as $201.35. The move followed the company's latest quarterly report showing 157% year‑over‑year revenue growth, earnings and revenue beating consensus, a 35.37% net margin and EPS of $1.16 versus the $1.02 estimate.

Analyst sentiment turned positive: Zacks added Credo to its #1 (Strong Buy) growth‑stock list for July 30, and Seeking Alpha argued that a recent sell‑off was overblown, highlighting the firm’s AI data‑center connectivity prospects. Goldman Sachs reaffirmed a “buy” rating with a $250 price target, while Stifel Nicolaus raised its target to $350.

Insider activity drew attention as CTO Chi Fung Cheng sold 27,500 shares for about $5.65 million under a Rule 10b5‑1 plan, reducing his holdings by only 0.47%. The sale was one of several scheduled transactions this year.