Credo (CRDO) Share Price Rises Ahead of Upcoming Earnings Report
Credo Technology Group Holding Ltd. (NASDAQ: CRDO) saw its share price rise by 8.82% to $282.82 on Monday as investors positioned ahead of the company's Q1 fiscal year 2027 earnings report, scheduled for release after market close on September 1, 2026. The firm expects revenues in the first quarter to more than double from $223.1 million a year ago, with guidance set between $465 million and $475 million. GAAP gross margin is projected at 66.9%–68.9%, while non-GAAP gross margin targets are expected to be in the range of 67%–69%. Credo's CEO highlighted continued strong performance driven by its innovative, vertically integrated approach. Hedge fund participation has declined, with holdings dropping from $2.5 billion to $1.9 billion quarter-on-quarter as 59 hedge funds held positions compared to 69 in the prior period.
Topics: AI industry CRDO Credo revenue guidance