CoreWeave (NASDAQ:CRWV) Shares Up 5.4% – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV) rose 5.4% during trading on Monday . The company traded as high as $77.39 and last traded at $77.06. Approximately 24,947,049 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 24,188,432 shares. The stock had previously closed at $73.12.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of CoreWeave from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. The Goldman Sachs Group reduced their price objective on CoreWeave from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Bank of America cut their target price on CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. JMP Securities upgraded CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price target for the company in a research report on Tuesday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $174.00 price objective on shares of CoreWeave in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and three have assigned 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 price target of $130.14.

CoreWeave Stock Up 4.4%

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $30.66 billion and a PE ratio of -54.73. The business’s 50-day moving average price is $111.33 and its 200-day moving average price is $120.68.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted ($1.82) EPS. The firm’s quarterly revenue was up 133.7% compared to the same quarter last year.

Insider Activity

In other news, insider Brian M. Venturo sold 281,250 shares of CoreWeave stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $74.44, for a total transaction of $20,936,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Nitin Agrawal sold 3,640 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $70.27, for a total transaction of $255,782.80. Following the transaction, the chief financial officer directly owned 147,519 shares in the company, valued at approximately $10,366,160.13. The trade was a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,942,428 shares of company stock valued at $3,924,103,461.

Institutional Investors Weigh In On CoreWeave

Large investors have recently bought and sold shares of the business. Family Legacy Financial Solutions LLC raised its holdings in CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. HighMark Wealth Management LLC acquired a new stake in CoreWeave in the 3rd quarter worth approximately $27,000. OLD Second National Bank of Aurora bought a new stake in CoreWeave during the third quarter worth approximately $27,000. KERR FINANCIAL PLANNING Corp bought a new stake in CoreWeave during the third quarter worth approximately $27,000. Finally, Princeton Global Asset Management LLC acquired a new position in CoreWeave during the third quarter valued at approximately $28,000.

CoreWeave Company Profile

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.