CoreWeave (NASDAQ:CRWV) Stock Gets Price Target Cut from Citigroup

CoreWeave (NASDAQ:CRWV) had its target price decreased by analysts at Citigroup from $159.00 to $128.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price target would suggest a potential upside of 164.35% from the stock’s current price.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $150.00 price target (up from $135.00) on shares of CoreWeave in a research report on Friday, August 7th. Northland Securities set a $200.00 price objective on CoreWeave in a research report on Wednesday, October 7th. William Blair assumed coverage on CoreWeave in a research note on Wednesday, September 30th. They set an “outperform” rating for the company. UBS Group cut their target price on shares of CoreWeave from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, BTIG Research began coverage on shares of CoreWeave in a research note on Wednesday, July 22nd. They issued a “buy” rating on the stock. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $129.41.

CoreWeave Trading Down 9.9%

NASDAQ:CRWV traded down $5.32 during trading hours on Wednesday, reaching $48.42. The company’s stock had a trading volume of 59,354,680 shares, compared to its average volume of 31,722,889. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $22.22 billion, a price-to-earnings ratio of -13.27 and a beta of 7.71. The firm has a 50-day simple moving average of $78.05 and a 200-day simple moving average of $90.65. CoreWeave has a 1 year low of $48.02 and a 1 year high of $138.25.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company earned ($0.27) earnings per share. The business’s quarterly revenue was up 112.5% on a year-over-year basis. Research analysts expect that CoreWeave will post -4.97 EPS for the current fiscal year.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, insider Kristen J. Mcveety sold 156,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $81.63, for a total value of $12,734,280.00. Following the completion of the sale, the insider owned 123,313 shares in the company, valued at approximately $10,066,040.19. This trade represents a 55.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $89.18, for a total value of $17,836,000.00. Following the completion of the sale, the chief executive officer owned 1,876,815 shares of the company’s stock, valued at approximately $167,374,361.70. This trade represents a 9.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,211,804 shares of company stock valued at $382,310,687 in the last 90 days. Insiders own 24.20% of the company’s stock.

Institutional Trading of CoreWeave

Large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of CoreWeave by 241.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 307 shares of the company’s stock worth $27,000 after purchasing an additional 217 shares during the period. Essential Partners LLC purchased a new position in shares of CoreWeave during the second quarter valued at about $30,000. Peterson Wealth Services raised its stake in CoreWeave by 153.1% in the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after buying an additional 245 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in CoreWeave in the first quarter worth about $31,000. Finally, Burnham & Co LLC purchased a new stake in CoreWeave in the second quarter worth about $32,000.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave’s roughly $104 billion revenue backlog and rapid growth offer a counterpoint to the selloff, though fulfilling those contracts depends on the company’s ability to build and finance capacity. Article: CoreWeave More Than Halved Over the Past 6 Months
• Neutral Sentiment: Some analysts see substantial potential in the backlog, but the outlook depends on execution and access to capital. Article: Counterparty Concentration and Depreciation Define CoreWeave Now
• Negative Sentiment: Election results prompted fears that new state leaders could pursue data-center moratoriums or other restrictions. Texas is estimated to account for a substantial share of planned U.S. data-center power capacity, making possible delays there a particular concern for infrastructure providers. Article: Texas Blue Wave Could Threaten Planned Data-Center Power
• Negative Sentiment: CoreWeave shares and bonds sold off as investors reassessed whether political resistance could slow data-center construction and weaken growth prospects. Article: CRWV Stock Drops and Bonds Tumble After Election Results
• Negative Sentiment: Coverage also highlighted CoreWeave’s high debt burden, interest costs, and reliance on a concentrated customer base. Those risks may amplify concerns about funding its expansion, while reports of insider selling added pressure. Article: CoreWeave’s Bond Yield Is a Warning for AI Debt

CoreWeave Company Profile

CoreWeave, Inc is a specialized cloud computing company that provides infrastructure designed for artificial intelligence (AI), machine learning, and other high-performance computing workloads. Its platform gives customers access to accelerated computing resources, including graphics processing units (GPUs), along with the networking, storage, and software tools needed to develop, train, and deploy demanding applications.

The company offers cloud services for AI model training and inference, visual effects and rendering, scientific computing, and other data-intensive workloads.