Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1487.5%
Neutral212.5%
Bearish00.0%
Credo Technology Group Holding Ltd · CRDO · FY2026 Q2 · Calendar Q4 2025
Credo posts record Q2 revenue as new connectivity products expand
The current analysis supports a constructive growth case: strong AEC demand and new product categories are expanding the opportunity. The case remains dependent on wafer availability, hyperscaler diversification, and successful execution of the planned product ramps.
Reported After market closeNASDAQTechnology
$39.62B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.67
Consensus $0.49
EPS surprise
+36.2%
Reported versus consensus
Reported revenue
$268.0M
Consensus $235.0M
Revenue surprise
+14.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+10.1%
Event window
SPY move
+0.2%
Same window
Abnormal move
+9.9%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
-23.6%
Up to 20 sessions
CRDOSPY benchmark
Ask FN2 about CRDO FY2026 Q2
Transcript, numbers and history already loaded
Why did CRDO rise 10.1% after beating EPS estimates in FY2026 Q2?What changed in CRDO's guidance and outlook in FY2026 Q2?Give me the bull and bear case for CRDO after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management raised the outlook, reported another record quarter, added three product growth pillars, and completed the Hyperlume acquisition to accelerate micro-LED-based ALC development.
Guidance delta
Raised: management projected Q3 revenue of $335–$345 million, reflecting strong sequential growth expectations.
Key takeaways
- Record Q2 FY26 revenue of $268 million was driven by AEC adoption among hyperscalers.
- Management highlighted Zero Flap optics, micro-LED-based ALCs, and OmniConnect gearboxes as new growth pillars.
- Four hyperscalers each contributed more than 10% of revenue, while a fifth was ramping.
- The next test is converting product trials and launches into revenue while securing wafer capacity.
Management priorities
- Expand AEC capacity and add hyperscaler customers.
- Bring Zero Flap optics, ALCs, and OmniConnect gearboxes through trials and commercial launches.
- Develop higher-speed optical and micro-LED connectivity products.
- Use the Hyperlume acquisition to advance near-package optics.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$223.68Current
$15Low
$207.58Average
$325High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 6, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Stifel | Buy | Buy | Maintain | Oct 5, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 21, 2026 |
| Rosenblatt | Neutral | Neutral | Maintain | Sep 2, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Sep 2, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 2, 2026 |
| B of A Securities | Buy | Buy | Maintain | Sep 2, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 18, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 21, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 20, 2026 |
| Roth Capital | Buy | Buy | Maintain | Jun 2, 2026 |
| Needham | Buy | Buy | Maintain | Jun 2, 2026 |
| Jefferies | Buy | Buy | Maintain | Jun 2, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 16, 2026 |
| Craig-Hallum | Buy | Buy | Maintain | Dec 3, 2024 |
| Roth MKM | Buy | Buy | Maintain | Oct 22, 2024 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Feb 15, 2023 |
Named analyst price targets
Upside is calculated against the persisted current price $223.68. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stifel Nicolaus | Analyst unavailable | $310 | $218.64 | +38.6% | Oct 5, 2026 |
| Mizuho Securities | Vijay Rakesh | $245 | $175.89 | +9.5% | Sep 21, 2026 |
| Evercore ISI | Analyst unavailable | $292 | $170.74 | +30.5% | Sep 2, 2026 |
| Rosenblatt Securities | Mike Genovese | $235 | $170.17 | +5.1% | Sep 2, 2026 |
| Wells Fargo | Analyst unavailable | $275 | $206.63 | +22.9% | Sep 2, 2026 |
| Susquehanna | Analyst unavailable | $250 | $216.66 | +11.8% | Jul 21, 2026 |
| Barclays | Tom O'Malley | $300 | $202.68 | +34.1% | Jul 20, 2026 |
| Stifel Nicolaus | Analyst unavailable | $350 | $271.83 | +56.5% | Jun 22, 2026 |
| Evercore ISI | Mark Lipacis | $325 | $271.83 | +45.3% | Jun 22, 2026 |
| Mizuho Securities | Vijay Rakesh | $290 | $211.95 | +29.7% | Jun 2, 2026 |
| Susquehanna | Analyst unavailable | $235 | $212.57 | +5.1% | Jun 2, 2026 |
| Goldman Sachs | Analyst unavailable | $250 | $226.1 | +11.8% | Jun 2, 2026 |
| Needham | Quinn Bolton | $275 | $226.1 | +22.9% | Jun 2, 2026 |
| Jefferies | Blayne Curtis | $270 | $226.1 | +20.7% | Jun 2, 2026 |
| Roth Capital | Analyst unavailable | $300 | $226.1 | +34.1% | Jun 2, 2026 |
| Mizuho Securities | Vijay Rakesh | $260 | $236.03 | +16.2% | Jun 1, 2026 |
| Stifel Nicolaus | Tore Svanberg | $250 | $221.23 | +11.8% | May 27, 2026 |
| Redburn Partners | Analyst unavailable | $206 | $174.01 | -7.9% | May 1, 2026 |
| Goldman Sachs | James Schneider | $170 | $168.35 | -24.0% | Apr 16, 2026 |
| Stifel Nicolaus | Tore Svanberg | $200 | $97.68 | -10.6% | Mar 3, 2026 |
| Craig-Hallum | Richard Shannon | $200 | $97.43 | -10.6% | Mar 3, 2026 |
| Goldman Sachs | Analyst unavailable | $165 | $127.91 | -26.2% | Feb 19, 2026 |
| Roth Capital | Analyst unavailable | $200 | $123.41 | -10.6% | Feb 10, 2026 |
| Barclays | Tom O'Malley | $260 | $156.84 | +16.2% | Jan 15, 2026 |
| Wolfe Research | Analyst unavailable | $240 | $196.95 | +7.3% | Dec 2, 2025 |
| KGI Securities | Rob Chang | $230 | $212.89 | +2.8% | Dec 2, 2025 |
| Mizuho Securities | Vijay Rakesh | $225 | $171.13 | +0.6% | Dec 2, 2025 |
| Roth Capital | Analyst unavailable | $250 | $171.13 | +11.8% | Dec 2, 2025 |
| New Street | Analyst unavailable | $240 | $171.13 | +7.3% | Dec 2, 2025 |
| Barclays | Tom O'Malley | $220 | $171.13 | -1.6% | Dec 2, 2025 |
| Susquehanna | Analyst unavailable | $175 | $144.17 | -21.8% | Oct 22, 2025 |
| Stifel Nicolaus | Analyst unavailable | $160 | $144.5 | -28.5% | Oct 1, 2025 |
| Roth Capital | Analyst unavailable | $170 | $143.52 | -24.0% | Sep 30, 2025 |
| Stifel Nicolaus | Tore Svanberg | $155 | $124.77 | -30.7% | Sep 4, 2025 |
| Barclays | Tom O'Malley | $165 | $124.77 | -26.2% | Sep 4, 2025 |
| Stifel Nicolaus | Tore Svanberg | $130 | $124.27 | -41.9% | Sep 2, 2025 |
| Mizuho Securities | Vijay Rakesh | $135 | $118.64 | -39.6% | Aug 14, 2025 |
| Roth Capital | Suji Desilva | $95 | $73.49 | -57.5% | Jun 13, 2025 |
| Barclays | Tom O'Malley | $85 | $71.92 | -62.0% | Jun 3, 2025 |
| Barclays | Tom O'Malley | $70 | $37.02 | -68.7% | Apr 22, 2025 |
| Mizuho Securities | Vijay Rakesh | $85 | $73.8 | -62.0% | Jan 10, 2025 |
| Stifel Nicolaus | Tore Svanberg | $85 | $73.02 | -62.0% | Jan 8, 2025 |
| Stifel Nicolaus | Tore Svanberg | $80 | $76.17 | -64.2% | Jan 6, 2025 |
| Susquehanna | Christopher Rolland | $80 | $66.26 | -64.2% | Dec 17, 2024 |
| Mizuho Securities | Vijay Rakesh | $49 | $47.88 | -78.1% | Dec 2, 2024 |
| Summit Redstone Partners | Suji Desilva | $45 | $38.79 | -79.9% | Oct 22, 2024 |
| Mizuho Securities | Vijay Rakesh | $41 | $38.26 | -81.7% | Oct 14, 2024 |
| Stifel Nicolaus | Tore Svanberg | $42 | $33.71 | -81.2% | Oct 9, 2024 |
| Craig-Hallum | Richard Shannon | $38 | $31.3 | -83.0% | Sep 5, 2024 |
| Needham | Quinn Bolton | $33 | $25.84 | -85.2% | Sep 5, 2024 |
| Barclays | Tom O'Malley | $32 | $31.3 | -85.7% | Sep 5, 2024 |
| Mizuho Securities | Vijay Rakesh | $35 | $31.63 | -84.4% | Sep 3, 2024 |
| Stifel Nicolaus | Tore Svanberg | $40 | $34.91 | -82.1% | Sep 3, 2024 |
| Stifel Nicolaus | Tore Svanberg | $36 | $30.45 | -83.9% | Jul 18, 2024 |
| Needham | Quinn Bolton | $29 | $20.22 | -87.0% | May 30, 2024 |
| Barclays | Tom O'Malley | $30 | $20.22 | -86.6% | May 30, 2024 |
| Craig-Hallum | Richard Shannon | $30 | $21.22 | -86.6% | Apr 15, 2024 |
| Mizuho Securities | Vijay Rakesh | $18 | $16.37 | -92.0% | Jun 1, 2023 |
| Goldman Sachs | Toshiya Hari | $19 | $13.98 | -91.5% | Jul 27, 2022 |
| Needham | Analyst unavailable | $15 | $10.25 | -93.3% | Jun 2, 2022 |
| Mizuho Securities | Analyst unavailable | $20 | $11.3 | -91.1% | Apr 26, 2022 |
Track every rating change on CRDO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCredo Technology Group Holding Ltd (CRDO) specializes in delivering advanced high-speed connectivity solutions for both optical and electrical Ethernet applications. Its operational reach extends globally, encompassing the United States, Mexico, Mainland China, Hong Kong, and various other international regions. The company's product offerings include integrated circuits (ICs), active electrical cables (AECs), and SerDes chiplets, all developed utilizing its proprietary serializer/deserializer (SerDes) and digital signal processor (DSP) technologies. Beyond hardware, Credo also provides intellectual property (IP) solutions, particularly focusing on SerDes IP licensing. Established in 2008, the firm's corporate headquarters are situated in San Jose, California.
Historical context
All CRDO earningsTechnology peers this season
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|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the CRDO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-06T12:50:44.376275+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-06T12:50:44.373501+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-06. For educational purposes only; not investment advice.