CoreWeave (NASDAQ:CRWV) Stock Price Up 5.8% – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV)’s share price was up 5.8% on Monday . The company traded as high as $87.54 and last traded at $86.46. Approximately 21,600,592 shares were traded during trading, a decline of 25% from the average session volume of 28,715,322 shares. The stock had previously closed at $81.75.

Analyst Ratings Changes

Several brokerages recently commented on CRWV. Cantor Fitzgerald restated an “overweight” rating and set a $167.00 target price on shares of CoreWeave in a research report on Thursday, June 11th. Citigroup boosted their price target on CoreWeave from $155.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wells Fargo & Company increased their price target on CoreWeave from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Evercore reaffirmed an “outperform” rating and set a $150.00 price objective on shares of CoreWeave in a research report on Wednesday, April 15th. Finally, Bank of America upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Tuesday, March 24th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.00.

CoreWeave Stock Performance

The stock has a market cap of $38.70 billion, a price-to-earnings ratio of -27.80 and a beta of 7.17. The company’s fifty day simple moving average is $107.48 and its two-hundred day simple moving average is $94.87. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31.

CoreWeave (NASDAQ:CRWV) last posted its 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). The business had revenue of $2.08 billion for the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.CoreWeave’s quarterly revenue was up 111.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.60) earnings per share. On average, analysts forecast that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Insider Buying and Selling at CoreWeave

In related news, Director Jack D. Cogen sold 986,540 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total transaction of $106,349,012.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian M. Venturo sold 1,125,000 shares of the company’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $110.82, for a total transaction of $124,672,500.00. 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 have sold 25,812,227 shares of company stock worth $3,028,961,468.

Institutional Trading of CoreWeave

A number of large investors have recently bought and sold shares of CRWV. KERR FINANCIAL PLANNING Corp bought a new stake in CoreWeave in the 3rd quarter valued at about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in CoreWeave in the 3rd quarter valued at approximately $34,000. Cornerstone Planning Group LLC lifted its holdings in CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Cullen Frost Bankers Inc. grew 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 buying an additional 121 shares in the last quarter. Finally, Greenline Wealth Management LLC bought a new stake in shares of CoreWeave during the fourth quarter valued at about $28,000.

CoreWeave Company Profile

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.