Credo Technology(CRDO) Soars 2.92% on Record Revenue

Credo Technology(CRDO) shares surged to a record high today, with an intraday gain of 2.92%.

The strategy of buying CRDO shares after they reached a recent high and selling them one week later delivered remarkable returns over the past five years. The strategy achieved a 481.03% return, vastly outperforming the benchmark, which remained at -100.00%. The excess return was 581.03%, indicating that the strategy's focus on short-term price movements paid off significantly. With a maximum drawdown of 0.00% and a Sharpe ratio of 1.36, the strategy also showcased strong risk management, maintaining its principal value during market downturns.

Credo Technology's stock price has been on a strong upward trajectory, driven by several key factors. The company's fiscal 2025 revenues reached $436.8 million, marking a significant 126% year-over-year increase. This robust financial performance has bolstered investor confidence in the company's growth prospects.

Additionally, BofA recently raised its price target for Credo Technology to $120 from $100, while maintaining a Buy rating. The bank cited an expected higher EPS power of $3 by CY27, further validating the company's strong financial outlook. This positive analyst sentiment has contributed to the recent surge in Credo Technology's stock price.

Furthermore, the acquisition of Credo Technology shares by Praxis Investment Management Inc. on June 22, 2025, has also played a role in driving the stock's upward momentum. This institutional investment reflects growing interest in the company and its potential for future growth.