Credo Technology (CRDO) Revenue Grows 115% Amid 43% Stock Drop

Credo Technology Group (NASDAQ:CRDO) has seen its stock price decline 43% from its 52-week high of $308.67, despite reporting a 115% year-over-year revenue growth of $479 million for Q1 fiscal 2027. The company's non-GAAP EPS was $1.20, surpassing the $1.17 estimate, and management projects Q2 revenue between $525 million and $535 million. However, investor concerns about customer concentration, with two clients accounting for 61% of revenue, have negatively impacted market perception. The average price target for CRDO sits at $282.47, suggesting a potential upside of about 60.6% from the current trading price of approximately $175.89.

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