CoreWeave (NASDAQ:CRWV) Price Target Raised to $175.00

by · The Cerbat Gem

CoreWeave (NASDAQ:CRWVFree Report) had its price objective raised by DA Davidson from $125.00 to $175.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

CRWV has been the topic of several other research reports. Cantor Fitzgerald started coverage on shares of CoreWeave in a report on Thursday, April 9th. They issued an “overweight” rating and a $149.00 price target on the stock. Sanford C. Bernstein started coverage on shares of CoreWeave in a report on Thursday, March 5th. They issued an “underperform” rating and a $56.00 price target on the stock. Truist Financial upped their price target on shares of CoreWeave from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of CoreWeave in a report on Monday, March 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CoreWeave in a report on Friday, February 27th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.61.

Get Our Latest Research Report on CoreWeave

CoreWeave Trading Up 1.3%

CoreWeave stock opened at $118.69 on Monday. The stock has a market cap of $49.73 billion and a P/E ratio of -37.09. CoreWeave has a fifty-two week low of $33.51 and a fifty-two week high of $187.00. The firm’s fifty day moving average price is $87.09 and its 200-day moving average price is $94.42. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46.

CoreWeave (NASDAQ:CRWVGet Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion during the quarter. CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The company’s revenue was up 110.4% on a year-over-year basis.

Insider Buying and Selling at CoreWeave

In related news, insider Brannin Mcbee sold 300,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $72.61, for a total value of $21,783,000.00. Following the completion of the transaction, the insider directly owned 248,664 shares in the company, valued at approximately $18,055,493.04. The trade was a 54.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian M. Venturo sold 1,125,000 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the completion of the transaction, the insider owned 285,327 shares of the company’s stock, valued at $23,071,541.22. This trade represents a 79.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,562,139 shares of company stock valued at $749,448,956 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRWV. Renaissance Capital LLC boosted its position in CoreWeave by 49.9% during the third quarter. Renaissance Capital LLC now owns 47,162 shares of the company’s stock valued at $6,454,000 after buying an additional 15,697 shares during the period. Munro Partners boosted its position in CoreWeave by 5,272.4% during the third quarter. Munro Partners now owns 616,485 shares of the company’s stock valued at $84,366,000 after buying an additional 605,010 shares during the period. AE Wealth Management LLC purchased a new stake in CoreWeave during the third quarter valued at about $4,241,000. HWG Holdings LP purchased a new stake in CoreWeave during the third quarter valued at about $1,863,000. Finally, Liontrust Investment Partners LLP purchased a new stake in CoreWeave during the second quarter valued at about $5,692,000.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

CoreWeave Company Profile

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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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