CoreWeave (NASDAQ:CRWV) Shares Climb 1.7% – Time to Buy?
by Tristan Rich · The Markets DailyCoreWeave Inc. (NASDAQ:CRWV – Get Free Report) shot up 1.7% on Thursday. The company traded as high as $88.88 and last traded at $88.57. 20,329,548 shares were traded during trading, a decline of 29% from the average session volume of 28,453,834 shares. The stock had previously closed at $87.12.
More CoreWeave News
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: New NVIDIA platform access strengthens CoreWeave’s AI offering. CoreWeave announced support for NVIDIA Vera CPUs and availability of the Vera Rubin NVL72 system, with Cognition identified as its first production customer. The additions could help the company capture demand for AI-agent and other advanced workloads. CoreWeave Delivers NVIDIA Vera Rubin NVL72 Performance at Production Scale
- Positive Sentiment: CoreWeave launched Forge and a Partner Network to simplify AI development and connect customers with validated integrations from partners including CrowdStrike, VAST Data, Reflection and ClickHouse. The initiatives may expand enterprise adoption and improve the company’s competitive position as AI-cloud demand grows. CoreWeave Unveils Forge for AI Development
- Positive Sentiment: William Blair initiated coverage with an Outperform rating. The firm cited substantial demand from rapid AI scaling, while other recent bullish commentary points to premium pricing, rising revenue per gigawatt and a large backlog. William Blair Starts Coverage of CoreWeave
- Neutral Sentiment: CEO Michael Intrator said data-center regulations and local opposition could shift where facilities are built, but have not reduced underlying demand for AI computing capacity. CoreWeave CEO Says Data Center Backlash Isn’t Scaring Off AI Giants
- Negative Sentiment: Credit-market caution remains a major overhang. Commentary highlights concerns about CoreWeave’s heavy debt burden, funding needs and ability to convert strong backlog growth into sustainable cash flow. A pending investor lawsuit adds further headline risk. CoreWeave: The Bond Market Remains Cautious
Wall Street Analysts Forecast Growth
CRWV has been the subject of a number of recent research reports. BTIG Research started coverage on CoreWeave in a research note on Wednesday, July 22nd. They issued a “buy” rating for the company. William Blair assumed coverage on shares of CoreWeave in a research report on Wednesday. They set an “outperform” rating on the stock. The Goldman Sachs Group raised their price objective on shares of CoreWeave from $121.00 to $139.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Btg Pactual set a $125.00 target price on shares of CoreWeave in a research note on Monday, September 21st. Finally, Wolfe Research reiterated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. Twenty-three analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.78.
Read Our Latest Report on CoreWeave
CoreWeave Stock Performance
The firm’s fifty day moving average is $86.55 and its 200-day moving average is $94.65. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53. The stock has a market capitalization of $40.64 billion, a PE ratio of -24.27 and a beta of 7.45.
CoreWeave (NASDAQ:CRWV – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. The business had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. CoreWeave’s revenue was up 112.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.27) earnings per share. As a group, research analysts anticipate that CoreWeave Inc. will post -5.2 earnings per share for the current year.
Insider Transactions at CoreWeave
In related news, CFO Nitin Agrawal sold 55,764 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $86.83, for a total transaction of $4,841,988.12. Following the completion of the transaction, the chief financial officer directly owned 132,596 shares in the company, valued at $11,513,310.68. This trade represents a 29.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Chen Goldberg sold 22,424 shares of CoreWeave stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $95.91, for a total value of $2,150,685.84. Following the completion of the transaction, the executive vice president directly owned 50,550 shares of the company’s stock, valued at approximately $4,848,250.50. This represents a 30.73% decrease in their ownership of the stock. 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. Insiders sold 5,908,407 shares of company stock worth $513,390,836 in the last ninety days. 24.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in CRWV. Alyeska Investment Group L.P. increased its stake in CoreWeave by 55.7% during the 2nd quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock worth $1,084,117,000 after buying an additional 3,897,741 shares during the period. State Street Corp boosted its position in CoreWeave by 139.7% in the 2nd quarter. State Street Corp now owns 7,058,846 shares of the company’s stock valued at $702,638,000 after buying an additional 4,113,873 shares during the period. Bank of America Corp DE grew its stake in shares of CoreWeave by 13.1% in the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock worth $437,870,000 after acquiring an additional 653,398 shares in the last quarter. Clear Street Group Inc. increased its position in shares of CoreWeave by 57.2% during the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock worth $333,260,000 after acquiring an additional 1,692,916 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of CoreWeave by 22,624.0% in the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after acquiring an additional 3,796,077 shares in the last quarter.
CoreWeave Company Profile
CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning and other data-intensive workloads. The company offers access to accelerated computing resources, including graphics processing units (GPUs), alongside central processing units, high-performance storage, networking and data center capacity.
Its platform supports AI model training, fine-tuning and inference, as well as visual effects, rendering, scientific computing and other demanding applications.