Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet
The Benzinga Stock Whisper Index highlights five unique stocks each week that attract high reader and investor interest.
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JP Morgan Maintains Overweight on Credo Technology Group, Lowers Price Target to $310
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Read original at benzingaWhy Credo Technology Sank This Week
Credo Technology stock plunged 29.5% this week despite beating earnings expectations with 114.7% revenue growth and 130% EPS growth. The sell-off was driven by margin pressure, with GAAP gross margins falling to 64.5% from 68% last quarter, and higher-than-expected stock-based compensation. At a valuation of ~50x true forward earnings when accounting for stock dilution, investors viewed the results as insufficient given the company's already high valuation.
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