Citigroup Issues Positive Forecast for CoreWeave (NASDAQ:CRWV) Stock Price

CoreWeave (NASDAQ:CRWV) had its price objective hoisted by equities researchers at Citigroup from $128.00 to $149.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target suggests a potential upside of 141.24% from the company’s previous close.

CRWV has been the topic of a number of other research reports. Roth Capital set a $145.00 target price on shares of CoreWeave in a research note on Thursday, August 13th. Raymond James Financial reiterated an “outperform” rating and issued a $75.00 price target on shares of CoreWeave in a research note on Monday, October 26th. Rothschild & Co Redburn assumed coverage on CoreWeave in a report on Monday, September 21st. They set a “sell” rating and a $54.00 price objective on the stock. William Blair started coverage on CoreWeave in a research report on Wednesday, September 30th. They set an “outperform” rating on the stock. Finally, BTIG Research assumed coverage on CoreWeave in a report on Wednesday, July 22nd. They issued a “buy” rating for the company. Twenty-seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

CoreWeave Price Performance

Shares of CRWV traded up $13.03 during midday trading on Wednesday, hitting $61.76. The company’s stock had a trading volume of 111,536,105 shares, compared to its average volume of 32,830,031. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53. CoreWeave has a one year low of $40.58 and a one year high of $138.25. The stock has a market capitalization of $28.34 billion, a price-to-earnings ratio of -16.89 and a beta of 7.71. The company’s fifty day simple moving average is $74.13 and its two-hundred day simple moving average is $89.44.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data 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. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business had revenue of $2.58 billion during the quarter. During the same quarter in the prior year, the company earned ($0.27) earnings per share. CoreWeave’s revenue for the quarter was up 112.5% compared to the same quarter last year. As a group, equities analysts expect that CoreWeave will post -4.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CoreWeave news, CEO Michael Intrator sold 200,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $95.72, for a total transaction of $19,144,000.00. Following the completion of the sale, the chief executive officer directly owned 1,676,815 shares in the company, valued at approximately $160,504,731.80. This trade represents a 10.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 307,131 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $108.75, for a total value of $33,400,496.25. Following the sale, the insider owned 220,810 shares of the company’s stock, valued at approximately $24,013,087.50. The trade was a 58.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,727,018 shares of company stock valued at $337,495,407 over the last three months. 24.20% of the stock is owned by insiders.

Institutional Investors Weigh In On CoreWeave

A number of hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in shares of CoreWeave by 4.0% during the 1st quarter. Parallel Advisors LLC now owns 2,340 shares of the company’s stock worth $181,000 after buying an additional 91 shares during the period. Pathway Wealth Management LLC boosted its stake in CoreWeave by 2.9% during the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock worth $278,000 after acquiring an additional 100 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in CoreWeave by 3.6% during the second quarter. Sequoia Financial Advisors LLC now owns 4,128 shares of the company’s stock worth $411,000 after acquiring an additional 145 shares in the last quarter. Cooper Financial Group boosted its stake in CoreWeave by 5.0% during the third quarter. Cooper Financial Group now owns 3,066 shares of the company’s stock worth $267,000 after acquiring an additional 147 shares in the last quarter. Finally, Crumly & Associates Inc. grew its holdings in CoreWeave by 0.4% in the third quarter. Crumly & Associates Inc. now owns 34,602 shares of the company’s stock worth $3,015,000 after purchasing an additional 150 shares during the period.

Recent CoreWeave Headlines

Here are a few of the latest headlines about CRWV:

• Positive Sentiment: Large backlog and customer funding: Contracted backlog reached about $132.5 billion, while CoreWeave expects around $9 billion in customer prepayments and deposits over the next three months. Management said it plans to rely on contract-backed financing and customer funding rather than new unsecured parent-level debt through 2027. Funding and backlog report
• Positive Sentiment: Expansion into new AI applications: CoreWeave announced general availability of a managed PostgreSQL database service for customers using its AI cloud platform, broadening its offering. A multi-year deal with autonomous-driving company Wayve also adds demand from “physical AI.” CoreWeave Database announcement
• Neutral Sentiment: Analyst views are mixed: Some firms maintained positive ratings, while DA Davidson cut its target to $45 and Stifel lowered its target to $60, underscoring uncertainty about valuation and execution after the rally. DA Davidson rating information

CoreWeave Company Profile

CoreWeave is a cloud computing company that provides infrastructure for artificial intelligence, machine learning, and other compute-intensive workloads. Its services include access to graphics processing units (GPUs), cloud storage and networking, and software tools for deploying and managing workloads. The company was founded in 2017 as a cryptocurrency mining business and later shifted its focus to cloud computing. CoreWeave is headquartered in Livingston, New Jersey, and operates data center infrastructure in the United States and Europe, serving customers that need large-scale computing resources.