CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Up 10% After Analyst Upgrade

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)’s share price was up 10% on Wednesday after Citigroup raised their price target on the stock from $43.00 to $94.00. Citigroup currently has a neutral rating on the stock. CoreWeave, Inc. Class A Common Stock traded as high as $103.50 and last traded at $99.24. Approximately 22,547,303 shares changed hands during trading, an increase of 48% from the average daily volume of 15,275,080 shares. The stock had previously closed at $90.24.

Several other equities research analysts have also recently commented on CRWV. DA Davidson cut CoreWeave, Inc. Class A Common Stock from a “neutral” rating to an “underperform” rating and set a $36.00 price target for the company. in a research note on Thursday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Wells Fargo & Company lifted their target price on shares of CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of CoreWeave, Inc. Class A Common Stock in a report on Thursday, May 15th. Finally, Stifel Nicolaus started coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.44.

Insider Buying and Selling

In other news, Director Jack D. Cogen sold 220,760 shares of CoreWeave, Inc. Class A Common Stock stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $47.56, for a total transaction of $10,499,345.60. Following the completion of the transaction, the director now owns 126,220 shares of the company’s stock, valued at $6,003,023.20. The trade was a 63.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $508,800.00. Following the transaction, the chief financial officer now owns 231,811 shares of the company’s stock, valued at $9,272,440. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,940 shares of company stock worth $13,786,546 in the last quarter.

Institutional Trading of CoreWeave, Inc. Class A Common Stock

An institutional investor recently bought a new position in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL acquired a new position in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,575 shares of the company’s stock, valued at approximately $318,000.

CoreWeave, Inc. Class A Common Stock Stock Down 6.7%

The business has a 50-day moving average price of $52.92.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

CoreWeave, Inc. Class A Common Stock Company Profile

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.