CoreWeave (NASDAQ:CRWV) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CoreWeave (NASDAQ:CRWV) in a research report sent to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a $180.00 price objective on the stock.

CRWV has been the topic of several other reports. Barclays lifted their target price on CoreWeave from $100.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $110.00 price objective on shares of CoreWeave in a research report on Tuesday. Evercore ISI cut their price objective on CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday. Melius upgraded shares of CoreWeave from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Tuesday, September 23rd. Finally, Arete Research upgraded shares of CoreWeave from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.62.

CoreWeave Stock Performance

Shares of NASDAQ CRWV traded down $7.15 during midday trading on Wednesday, hitting $78.28. 39,554,212 shares of the company’s stock traded hands, compared to its average volume of 23,638,420. The firm has a fifty day moving average of $123.24 and a 200 day moving average of $118.60. CoreWeave has a 1 year low of $33.51 and a 1 year high of $187.00. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $38.25 billion and a price-to-earnings ratio of -68.67.

CoreWeave (NASDAQ:CRWV) last announced its earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted ($1.82) earnings per share. The firm’s quarterly revenue was up 133.7% on a year-over-year basis. CoreWeave has set its FY 2025 guidance at EPS.

Insider Activity at CoreWeave

In other news, insider Brian M. Venturo sold 29,916 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $127.94, for a total transaction of $3,827,453.04. Following the completion of the transaction, the insider owned 215,486 shares in the company, valued at $27,569,278.84. This trade represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael N. Intrator sold 32,455 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $113.97, for a total value of $3,698,896.35. Following the completion of the sale, the chief executive officer owned 6,991,055 shares in the company, valued at $796,770,538.35. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 36,743,427 shares of company stock valued at $4,592,624,537.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Nvidia Corp increased its position in CoreWeave by 0.4% in the second quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock worth $3,958,701,000 after purchasing an additional 95,113 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CoreWeave by 109.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after buying an additional 3,888,164 shares in the last quarter. First Trust Advisors LP grew its stake in shares of CoreWeave by 1,464.9% in the 3rd quarter. First Trust Advisors LP now owns 1,944,348 shares of the company’s stock worth $266,084,000 after buying an additional 1,820,101 shares in the last quarter. Cisco Systems Inc. bought a new stake in shares of CoreWeave in the 2nd quarter worth about $173,493,000. Finally, Voya Investment Management LLC purchased a new stake in shares of CoreWeave during the 3rd quarter valued at about $110,562,000.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.