CoreWeave (NASDAQ:CRWV) Trading 3.5% Higher – Here’s Why

CoreWeave Inc. (NASDAQ:CRWV) rose 3.5% during trading on Friday . The company traded as high as $72.85 and last traded at $71.65. Approximately 38,684,788 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 24,158,928 shares. The stock had previously closed at $69.21.

Analyst Ratings Changes

CRWV has been the subject of several research analyst reports. Loop Capital lowered their target price on shares of CoreWeave from $165.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Jefferies Financial Group decreased their price objective on shares of CoreWeave from $180.00 to $155.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Moffett Nathanson lifted their target price on shares of CoreWeave from $56.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 19th. Raymond James Financial began coverage on CoreWeave in a research report on Monday, September 15th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Melius upgraded CoreWeave from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.14.

CoreWeave Stock Up 3.5%

The business’s fifty day moving average is $119.43 and its two-hundred day moving average is $119.95. The stock has a market cap of $27.69 billion and a price-to-earnings ratio of -49.41. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66.

CoreWeave (NASDAQ:CRWV) last released its earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. CoreWeave’s quarterly revenue was up 133.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Insiders Place Their Bets

In other news, Director Jack D. Cogen sold 1,112,004 shares of CoreWeave stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total value of $105,295,658.76. Following the completion of the transaction, the director owned 12,329,676 shares in the company, valued at approximately $1,167,497,020.44. This trade represents a 8.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $125.60, for a total value of $182,253,512.80. Following the transaction, the insider directly owned 363,631 shares of the company’s stock, valued at approximately $45,672,053.60. This represents a 79.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 33,685,533 shares of company stock valued at $4,289,381,690.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC grew its holdings in CoreWeave by 166.7% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. HighMark Wealth Management LLC purchased a new stake in shares of CoreWeave during the 3rd quarter worth $27,000. OLD Second National Bank of Aurora acquired a new position in shares of CoreWeave during the third quarter worth $27,000. Princeton Global Asset Management LLC purchased a new position in CoreWeave in the third quarter valued at $28,000. Finally, Aspect Partners LLC purchased a new position in CoreWeave in the third quarter valued at $28,000.

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.