Credo Technology Rallies 11.2% on Preliminary Q3 Revenue Beat and Raised Forecast
Credo Technology saw its shares surge 11.2% after reporting a preliminary Q3 revenue beat and raising its forecast, extending its rally to four days, including three straight double-digit advances. Options volume doubled to roughly 20,500 contracts, and 13 of 15 analysts rate the stock buy or better with a 57.2% upside to consensus estimates.
1. Preliminary Q3 Results and Stock Reaction
Credo Technology pre-announced a preliminary third-quarter revenue beat and lifted its full-year outlook, triggering an 11.2% jump in shares. This move marked the company’s fourth consecutive daily gain and its third straight day of double-digit percentage increases.
2. Technical and Trading Highlights
Earlier in the week, shares had fallen to a six-month low before reversing course and breaking back above the 20-day moving average. The rebound reflects renewed investor confidence after a period of underperformance and sets the stage for the March earnings report.
3. Analyst Sentiment and Options Activity
Options trading surged, with roughly 13,000 calls and 7,503 puts exchanged—double the typical volume—led by bullish activity in weekly 2/13 104-strike puts. Analysts are overwhelmingly optimistic, with 13 of 15 ratings at buy or better and a consensus upside of 57.2% to current levels.