CoreWeave Inc. (NASDAQ:CRWV) Receives $139.69 Consensus PT from Brokerages

CoreWeave Inc. (NASDAQ:CRWV) has earned an average recommendation of “Moderate Buy” from the thirty-four brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $138.8710.

A number of brokerages have commented on CRWV. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of CoreWeave in a report on Thursday, June 11th. Barclays lifted their price target on shares of CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Jefferies Financial Group upped their price objective on CoreWeave from $120.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of CoreWeave in a report on Friday, May 8th.

CoreWeave Trading Down 0.2%

CoreWeave stock opened at $73.06 on Thursday. CoreWeave has a 52-week low of $63.80 and a 52-week high of $153.20. The company has a market cap of $32.70 billion, a P/E ratio of -23.49 and a beta of 7.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The business has a 50-day simple moving average of $99.55 and a two-hundred day simple moving average of $95.33.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The business had revenue of $2.08 billion during the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm’s revenue for the quarter was up 111.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.60) EPS. Analysts predict that CoreWeave will post -4.57 EPS for the current year.

Insider Buying and Selling at CoreWeave

In other news, insider Brian M. Venturo sold 76,912 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $86.99, for a total value of $6,690,574.88. Following the transaction, the insider owned 283,985 shares of the company’s stock, valued at $24,703,855.15. This trade represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael N. Intrator sold 61,797 shares of CoreWeave stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total value of $5,372,631.18. Following the transaction, the chief executive officer directly owned 2,876,815 shares in the company, valued at approximately $250,110,296.10. The trade was a 2.10% 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. Over the last quarter, insiders sold 19,885,161 shares of company stock valued at $2,326,801,573. Company insiders own 24.20% of the company’s stock.

Hedge Funds Weigh In On CoreWeave

Hedge funds have recently modified their holdings of the company. Sivia Capital Partners LLC bought a new stake in shares of CoreWeave during the 2nd quarter valued at $39,824,000. Quantbot Technologies LP bought a new position in CoreWeave in the 2nd quarter worth $311,000. Invesco Ltd. bought a new position in CoreWeave in the 2nd quarter worth $882,000. First Trust Advisors LP purchased a new stake in CoreWeave in the 2nd quarter worth $20,260,000. Finally, Baird Financial Group Inc. purchased a new stake in CoreWeave in the 2nd quarter worth $455,000.

CoreWeave Company Profile

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.