CoreWeave (NASDAQ:CRWV) Trading Up 3.8% After Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV) shot up 3.8% during mid-day trading on Wednesday after Robert W. Baird upgraded the stock to a strong-buy rating. The stock traded as high as $85.37 and last traded at $82.64. 22,762,729 shares traded hands during trading, a decline of 20% from the average session volume of 28,282,906 shares. The stock had previously closed at $79.58.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their price objective on CoreWeave from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Oppenheimer increased their target price on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. BTIG Research assumed coverage on CoreWeave in a report on Wednesday. They issued a “buy” rating for the company. Bank of America upgraded CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Tuesday, March 24th. Finally, Wells Fargo & Company upped their price objective on CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, CoreWeave has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Activity

In other news, insider Brian M. Venturo sold 76,912 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $86.99, for a total transaction of $6,690,574.88. Following the sale, the insider owned 283,985 shares of the company’s stock, valued at $24,703,855.15. The trade was a 21.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael N. Intrator sold 61,797 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total value of $5,372,631.18. Following the completion of the sale, the chief executive officer owned 2,876,815 shares in the company, valued at approximately $250,110,296.10. This represents a 2.10% 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. In the last three months, insiders sold 17,070,099 shares of company stock worth $1,982,943,238. Company insiders own 24.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in shares of CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after acquiring an additional 121 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in CoreWeave during the fourth quarter worth about $28,000. Peterson Wealth Services raised its position in CoreWeave by 153.1% during the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after acquiring an additional 245 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in CoreWeave during the first quarter worth about $31,000.

CoreWeave Stock Down 1.9%

The company has a market cap of $36.30 billion, a PE ratio of -26.08 and a beta of 7.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The firm’s fifty day simple moving average is $97.75 and its 200-day simple moving average is $95.47.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business had revenue of $2.08 billion during the quarter. During the same quarter in the previous year, the company earned ($0.60) EPS. CoreWeave’s revenue was up 111.6% on a year-over-year basis. As a group, equities research analysts expect that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.