CoreWeave (NASDAQ:CRWV) Shares Up 11.7% – Still a Buy?

by · The Cerbat Gem

CoreWeave Inc. (NASDAQ:CRWV – Get Free Report)’s stock price shot up 11.7% on Friday . The company traded as high as $81.17 and last traded at $79.99. 12,414,685 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 27,522,358 shares. The stock had previously closed at $71.61.

Key Stores Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRWV shares. The Goldman Sachs Group reduced their price target on CoreWeave from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, November 17th. Raymond James Financial initiated coverage on CoreWeave in a report on Monday, September 15th. They issued an “outperform” rating and a $130.00 price target for the company. Evercore ISI dropped their price objective on shares of CoreWeave from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Seaport Res Ptn upgraded CoreWeave to a “hold” rating in a research note on Monday, September 15th. Finally, Morgan Stanley lifted their target price on CoreWeave from $91.00 to $99.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $127.70.

Read Our Latest Research Report on CoreWeave

CoreWeave Trading Up 11.7%

The company has a market cap of $30.90 billion and a price-to-earnings ratio of -55.16. 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 company’s 50-day moving average is $88.58 and its 200 day moving average is $113.85.

CoreWeave (NASDAQ:CRWV – Get Free Report) last announced its earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (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 quarter last year, the business earned ($1.82) EPS. The company’s quarterly revenue was up 133.7% on a year-over-year basis.

Insider Transactions at CoreWeave

In other news, CEO Michael N. Intrator sold 32,455 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $65.47, for a total value of $2,124,828.85. Following the completion of the sale, the chief executive officer directly owned 5,893,690 shares in the company, valued at $385,859,884.30. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brannin Mcbee sold 33,835 shares of the stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $75.63, for a total transaction of $2,558,941.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,553,614 shares of company stock valued at $1,889,721,764 in the last 90 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new stake in CoreWeave during the first quarter worth $963,000. Howard Financial Services LTD. acquired a new stake in shares of CoreWeave during the 2nd quarter worth about $489,000. McAlister Sweet & Associates Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at about $277,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at about $117,000. Finally, Wesbanco Bank Inc. acquired a new position in CoreWeave in the second quarter valued at about $212,000.

CoreWeave Company Profile

(Get Free Report)

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.

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