Shares of CoreWeave Inc. (NASDAQ:CRWV – Get Free Report) have been given an average rating of “Moderate Buy” by the thirty-four research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $138.78.
Several brokerages have issued reports on CRWV. Jefferies Financial Group cut shares of CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Wolfe Research restated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. BTIG Research initiated coverage on shares of CoreWeave in a research report on Wednesday, July 22nd. They issued a “buy” rating for the company. TD Cowen upgraded shares of CoreWeave to a “buy” rating in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised CoreWeave from a “neutral” rating to an “overweight” rating and increased their target price for the company from $120.00 to $125.00 in a research report on Thursday, September 24th.
Check Out Our Latest Analysis on CoreWeave
CoreWeave Trading Down 2.9%
Shares of NASDAQ CRWV opened at $85.07 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. The business has a fifty day simple moving average of $86.33 and a two-hundred day simple moving average of $94.57. The firm has a market cap of $39.04 billion, a PE ratio of -23.31 and a beta of 7.45. CoreWeave has a twelve month low of $60.55 and a twelve month high of $153.20.
CoreWeave (NASDAQ:CRWV – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. The business had revenue of $2.58 billion for the quarter. CoreWeave had a negative return on equity of 47.95% and a negative net margin of 25.41%.CoreWeave’s quarterly revenue was up 112.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS. Analysts expect that CoreWeave will post -5.19 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Chen Goldberg sold 22,424 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $95.91, for a total transaction of $2,150,685.84. Following the completion of the sale, the executive vice president owned 50,550 shares of the company’s stock, valued at $4,848,250.50. This represents a 30.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Intrator sold 200,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $86.82, for a total transaction of $17,364,000.00. Following the sale, the chief executive officer directly owned 687,129 shares of the company’s stock, valued at $59,656,539.78. The trade was a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,985,319 shares of company stock valued at $520,081,411 over the last 90 days. 24.20% of the stock is currently owned by corporate insiders.
Institutional Trading of CoreWeave
Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of CoreWeave by 139.7% during the second quarter. State Street Corp now owns 7,058,846 shares of the company’s stock valued at $702,638,000 after acquiring an additional 4,113,873 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in CoreWeave by 55.7% in the 2nd quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock worth $1,084,117,000 after purchasing an additional 3,897,741 shares in the last quarter. Deutsche Bank AG boosted its stake in CoreWeave by 22,624.0% in the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock worth $273,039,000 after purchasing an additional 3,796,077 shares in the last quarter. Altimeter Capital Management LP purchased a new stake in CoreWeave during the 4th quarter worth approximately $230,099,000. Finally, Amundi increased its position in shares of CoreWeave by 266.2% in the 1st quarter. Amundi now owns 3,284,121 shares of the company’s stock valued at $254,421,000 after acquiring an additional 2,387,337 shares during the period.
About CoreWeave
CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning and other data-intensive workloads. The company offers access to accelerated computing resources, including graphics processing units (GPUs), alongside central processing units, high-performance storage, networking and data center capacity.
Its platform supports AI model training, fine-tuning and inference, as well as visual effects, rendering, scientific computing and other demanding applications.
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