Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTVandita JadejaWed, August 5, 2026 at 3:30 PM GMT+2 4 min readQuick ReadCRDO tripled revenue to $1.3 billion and grew operating income over 1,000%, yet hitting $600 still demands a 175% gain and a 167x forward P/E.Wall Street is 95% bullish with a $279 consensus target, while the internal bull case of $581 still falls just short of the $600 milestone.Three new multi-billion TAM expansions in ZeroFlap optics, ALCs, and OmniConnect fuel the bull case, but a hyperscaler capex pause would quickly derail it.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Credo Technology Group didn't make the cut. Grab the names FREE today.Credo Technology (NASDAQ:CRDO) has quietly become one of the most important names in AI infrastructure. CEO Bill Brennan just wrapped a fiscal year where revenue more than tripled to $1.3 billion and non-GAAP net income increased more than five times to $662 million.Travis Wolfe / Shutterstock.comShares are up 51.75% year to date and 103% over the last 12 months. Can this Active Electrical Cable specialist reach $600 a share by 2030?CRDO Price Target — 24/7 Wall St.Why Credo Shares Are Stuck After a Monster RunCredo is taking a breather after a strong rally. Shares are down 9.74% over the past month despite popping 4.91% in the last week. With a beta of 3.2, the pullback from June's high near $259 was overdue.Guidance for Q1 FY2027 gross margin of 67% to 69% flagged margin pressure as new product lines like ZeroFlap optics and OmniConnect ramp. Add 231 recent insider transactions net selling, and traders are cautious after the run.CRDO Price Scenario — 24/7 Wall St.Wall Street Is 95% Bullish. Our Model Is CautiousAnalysts are almost unanimously positive. The consensus target sits at $279.29, backed by 4 Strong Buys, 14 Buys, and just 1 Hold. That is a 95% bullish reading.Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Credo Technology Group didn't make the cut. Grab the names FREE today.Our 2030 base case is more conservative at $263.11 (a 20.5% total return), with a bear case of $178.05 and a bull case of $580.63 (a 21.6% annualized return). Confidence on the base case is high at 90%. Analysts are anchored to the next 12 months. If AI capex stays on the current path, our bull case is the more relevant number.CRDO Analyst Ratings — 24/7 Wall St.The Path to $600 Per ShareReaching $600 from today's price of $218.35 would require a gain of 174.8%. Credo has already delivered 1,774.25% since early 2022. With forward EPS of $3.59, a price of $600 implies a forward P/E of 167. Our base case of $223.60 already implies 64x, meaning $600 requires 103x of additional multiple expansion. That only becomes reasonable if EPS compounds sharply through 2030.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info