Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1487.5%
Neutral212.5%
Bearish00.0%
Credo Technology Group Holding Ltd · CRDO · FY2026 Q4 · Calendar Q2 2026
Credo leans into optical growth as AI connectivity demand accelerates
Credo's earnings support a constructive growth case centered on AI infrastructure connectivity and a growing optical portfolio. The thesis depends on converting product launches and the Dust Photonics acquisition into sustained revenue while managing supply, adoption and concentration risks.
Reported After market closeNASDAQTechnology
$36.15B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.16
Consensus $1.02
EPS surprise
+13.7%
Reported versus consensus
Reported revenue
$437.0M
Consensus $431.8M
Revenue surprise
+1.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+1.3%
Event window
SPY move
+0.1%
Same window
Abnormal move
+1.1%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+13.1%
Up to 20 sessions
CRDOSPY benchmark
Ask FN2 about CRDO FY2026 Q4
Transcript, numbers and history already loaded
Why did CRDO rise 1.3% after beating EPS estimates in FY2026 Q4?What changed in CRDO's guidance and outlook in FY2026 Q4?Give me the bull and bear case for CRDO after FY2026 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The narrative shifted from a broad roadmap of upcoming products to a more optical-led growth opportunity: management now highlights more than $600 million of FY27 optical revenue, the completed Dust Photonics acquisition and supply-chain investments for advanced connectivity products.
Guidance delta
Guidance sentiment was maintained; management outlined Q1 FY27 revenue of $465-$475 million with mid-single-digit sequential growth and similar margins to FY26.
Key takeaways
- Credo reported record fiscal 2026 revenue, with management emphasizing AI-driven demand for high-reliability connectivity.
- Management expects the optical portfolio to contribute more than $600 million in FY27, led by ZeroFlap optics, optical DSPs and silicon photonics.
- The Dust Photonics acquisition adds silicon-photonic PIC capabilities, while cash and modest capex support continued research and development.
- The main execution questions are supply-chain readiness, product adoption and customer concentration.
Management priorities
- Ramp optical DSP, silicon photonics and ZeroFlap optics in FY27.
- Expand supply-chain capacity for advanced process nodes and laser-free optics.
- Invest in 200 Gb and 1.6 Tbps connectivity standards.
- Broaden the customer base beyond the largest hyperscalers and pursue opportunistic acquisitions.
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Beat
Miss
Match
Analyst 52W Price Targets
$193.87Previous close
$15Low
$209.12Average
$350High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 24, 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 |
|---|---|---|---|---|
| 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 |
| Stifel | Buy | Buy | Maintain | Jun 22, 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 previous close $193.87. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Vijay Rakesh | $245 | $175.89 | +26.4% | Sep 21, 2026 |
| Evercore ISI | Analyst unavailable | $292 | $170.74 | +50.6% | Sep 2, 2026 |
| Rosenblatt Securities | Mike Genovese | $235 | $170.17 | +21.2% | Sep 2, 2026 |
| Wells Fargo | Analyst unavailable | $275 | $206.63 | +41.8% | Sep 2, 2026 |
| Susquehanna | Analyst unavailable | $250 | $216.66 | +29.0% | Jul 21, 2026 |
| Barclays | Tom O'Malley | $300 | $202.68 | +54.7% | Jul 20, 2026 |
| Stifel Nicolaus | Analyst unavailable | $350 | $271.83 | +80.5% | Jun 22, 2026 |
| Evercore ISI | Mark Lipacis | $325 | $271.83 | +67.6% | Jun 22, 2026 |
| Mizuho Securities | Vijay Rakesh | $290 | $211.95 | +49.6% | Jun 2, 2026 |
| Susquehanna | Analyst unavailable | $235 | $212.57 | +21.2% | Jun 2, 2026 |
| Goldman Sachs | Analyst unavailable | $250 | $226.1 | +29.0% | Jun 2, 2026 |
| Needham | Quinn Bolton | $275 | $226.1 | +41.8% | Jun 2, 2026 |
| Jefferies | Blayne Curtis | $270 | $226.1 | +39.3% | Jun 2, 2026 |
| Roth Capital | Analyst unavailable | $300 | $226.1 | +54.7% | Jun 2, 2026 |
| Mizuho Securities | Vijay Rakesh | $260 | $236.03 | +34.1% | Jun 1, 2026 |
| Stifel Nicolaus | Tore Svanberg | $250 | $221.23 | +29.0% | May 27, 2026 |
| Redburn Partners | Analyst unavailable | $206 | $174.01 | +6.3% | May 1, 2026 |
| Goldman Sachs | James Schneider | $170 | $168.35 | -12.3% | Apr 16, 2026 |
| Stifel Nicolaus | Tore Svanberg | $200 | $97.68 | +3.2% | Mar 3, 2026 |
| Craig-Hallum | Richard Shannon | $200 | $97.43 | +3.2% | Mar 3, 2026 |
| Goldman Sachs | Analyst unavailable | $165 | $127.91 | -14.9% | Feb 19, 2026 |
| Roth Capital | Analyst unavailable | $200 | $123.41 | +3.2% | Feb 10, 2026 |
| Barclays | Tom O'Malley | $260 | $156.84 | +34.1% | Jan 15, 2026 |
| Wolfe Research | Analyst unavailable | $240 | $196.95 | +23.8% | Dec 2, 2025 |
| KGI Securities | Rob Chang | $230 | $212.89 | +18.6% | Dec 2, 2025 |
| Mizuho Securities | Vijay Rakesh | $225 | $171.13 | +16.1% | Dec 2, 2025 |
| Roth Capital | Analyst unavailable | $250 | $171.13 | +29.0% | Dec 2, 2025 |
| New Street | Analyst unavailable | $240 | $171.13 | +23.8% | Dec 2, 2025 |
| Barclays | Tom O'Malley | $220 | $171.13 | +13.5% | Dec 2, 2025 |
| Susquehanna | Analyst unavailable | $175 | $144.17 | -9.7% | Oct 22, 2025 |
| Stifel Nicolaus | Analyst unavailable | $160 | $144.5 | -17.5% | Oct 1, 2025 |
| Roth Capital | Analyst unavailable | $170 | $143.52 | -12.3% | Sep 30, 2025 |
| Stifel Nicolaus | Tore Svanberg | $155 | $124.77 | -20.0% | Sep 4, 2025 |
| Barclays | Tom O'Malley | $165 | $124.77 | -14.9% | Sep 4, 2025 |
| Stifel Nicolaus | Tore Svanberg | $130 | $124.27 | -32.9% | Sep 2, 2025 |
| Mizuho Securities | Vijay Rakesh | $135 | $118.64 | -30.4% | Aug 14, 2025 |
| Roth Capital | Suji Desilva | $95 | $73.49 | -51.0% | Jun 13, 2025 |
| Barclays | Tom O'Malley | $85 | $71.92 | -56.2% | Jun 3, 2025 |
| Barclays | Tom O'Malley | $70 | $37.02 | -63.9% | Apr 22, 2025 |
| Mizuho Securities | Vijay Rakesh | $85 | $73.8 | -56.2% | Jan 10, 2025 |
| Stifel Nicolaus | Tore Svanberg | $85 | $73.02 | -56.2% | Jan 8, 2025 |
| Stifel Nicolaus | Tore Svanberg | $80 | $76.17 | -58.7% | Jan 6, 2025 |
| Susquehanna | Christopher Rolland | $80 | $66.26 | -58.7% | Dec 17, 2024 |
| Mizuho Securities | Vijay Rakesh | $49 | $47.88 | -74.7% | Dec 2, 2024 |
| Summit Redstone Partners | Suji Desilva | $45 | $38.79 | -76.8% | Oct 22, 2024 |
| Mizuho Securities | Vijay Rakesh | $41 | $38.26 | -78.9% | Oct 14, 2024 |
| Stifel Nicolaus | Tore Svanberg | $42 | $33.71 | -78.3% | Oct 9, 2024 |
| Craig-Hallum | Richard Shannon | $38 | $31.3 | -80.4% | Sep 5, 2024 |
| Needham | Quinn Bolton | $33 | $25.84 | -83.0% | Sep 5, 2024 |
| Barclays | Tom O'Malley | $32 | $31.3 | -83.5% | Sep 5, 2024 |
| Mizuho Securities | Vijay Rakesh | $35 | $31.63 | -81.9% | Sep 3, 2024 |
| Stifel Nicolaus | Tore Svanberg | $40 | $34.91 | -79.4% | Sep 3, 2024 |
| Stifel Nicolaus | Tore Svanberg | $36 | $30.45 | -81.4% | Jul 18, 2024 |
| Needham | Quinn Bolton | $29 | $20.22 | -85.0% | May 30, 2024 |
| Barclays | Tom O'Malley | $30 | $20.22 | -84.5% | May 30, 2024 |
| Craig-Hallum | Richard Shannon | $30 | $21.22 | -84.5% | Apr 15, 2024 |
| Mizuho Securities | Vijay Rakesh | $18 | $16.37 | -90.7% | Jun 1, 2023 |
| Goldman Sachs | Toshiya Hari | $19 | $13.98 | -90.2% | Jul 27, 2022 |
| Needham | Analyst unavailable | $15 | $10.25 | -92.3% | Jun 2, 2022 |
| Mizuho Securities | Analyst unavailable | $20 | $11.3 | -89.7% | 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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| 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 |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
| IOT Samsara Inc. | FY2027 Q2 · Calendar Q3 2026 | +25.0% | +3.7% | Samsara: AI adoption expands as FY27 guidance holds |
Latest beats and misses
Who reports nextBeat on EPS
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% 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 · 2026-06-02T00:24:30.348376+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-24T07:30:56.429972+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T07:30:56.427251+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 2026-09-24. For educational purposes only; not investment advice.