Wall Street Bullish on Credo Technology Group (CRDO), Here's Why

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the Best Up and Coming AI Stocks to Buy. On March 3, William Blair reiterated a Buy rating on the stock, without disclosing any price targets. On the same day, Bank of America Securities reiterated a Buy rating on Credo Technology Group Holding Ltd (NASDAQ:CRDO) but lowered the price target from $200 to $160.

​The ratings follow Credo’s fiscal Q3 2026 earnings release on March 2. During the quarter, the company grew its revenue by 201.49% year-over-year to $407.01 million, surpassing estimates by $15.42 million. The EPS of $1.07 also topped estimates by $0.13. Management noted the quarter to be a record-breaking one, driven by strong demand from hyperscaler customers.

​Management highlighted that all of its top 3 customers contributed more than 10% to the total revenue, with the first contributing 39%, the second 32%, and the third 17% for the quarter. For the next quarter, the company expects revenue between $425 million and $435 million, while non-GAAP gross margin is guided at 64%-66%.

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​BofA highlighted the quarterly performance to be in line with earlier “stellar pre-announcement.” As a result, the firm raises its FY27 and FY28 pro-forma EPS estimates by 5% and 6%, respectively. The lower price target is based on the industry multiple re-rating, said BofA in a research note.

​Credo Technology Group Holding Ltd (NASDAQ:CRDO) develops connectivity solutions and products for the data infrastructure market. Its products include integrated circuits, active electrical cables, and SerDes chiplets.