CoreWeave (NASDAQ:CRWV) Stock Price Down 4.4% – Time to Sell?

by · The Markets Daily

CoreWeave Inc. (NASDAQ:CRWVGet Free Report)’s share price traded down 4.4% during trading on Tuesday . The stock traded as low as $81.56 and last traded at $82.12. 17,168,149 shares changed hands during trading, a decline of 36% from the average session volume of 26,709,691 shares. The stock had previously closed at $85.86.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of CoreWeave from $155.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Oppenheimer started coverage on shares of CoreWeave in a report on Friday, March 6th. They set an “outperform” rating and a $140.00 price objective for the company. Sanford C. Bernstein started coverage on shares of CoreWeave in a research report on Thursday, March 5th. They issued an “underperform” rating and a $56.00 target price for the company. Citigroup cut their target price on shares of CoreWeave from $135.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company reduced their price target on shares of CoreWeave from $150.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, CoreWeave presently has a consensus rating of “Moderate Buy” and an average target price of $122.35.

Get Our Latest Stock Analysis on CRWV

CoreWeave Stock Performance

The stock has a fifty day moving average price of $89.07 and a 200 day moving average price of $98.14. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 4.46. The firm has a market cap of $34.41 billion and a price-to-earnings ratio of -25.66.

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

Insider Buying and Selling at CoreWeave

In other CoreWeave news, CFO Nitin Agrawal sold 63,157 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $79.68, for a total transaction of $5,032,349.76. Following the completion of the sale, the chief financial officer directly owned 228,348 shares in the company, valued at $18,194,768.64. This represents a 21.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian M. Venturo sold 281,250 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $79.33, for a total value of $22,311,562.50. The SEC filing for this sale provides additional information. Insiders sold 4,549,568 shares of company stock worth $384,597,724 in the last quarter.

Hedge Funds Weigh In On CoreWeave

Large investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC grew its holdings in CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Family Legacy Financial Solutions LLC lifted its holdings in shares of CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 125 shares during the last quarter. HighMark Wealth Management LLC bought a new stake in shares of CoreWeave in the third quarter valued at approximately $27,000. OLD Second National Bank of Aurora bought a new stake in shares of CoreWeave in the third quarter valued at approximately $27,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of CoreWeave in the third quarter worth $27,000.

About CoreWeave

(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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