Bank of America Cuts CoreWeave (NASDAQ:CRWV) Price Target to $140.00

CoreWeave (NASDAQ:CRWV) had its price objective reduced by equities research analysts at Bank of America from $168.00 to $140.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 32.56% from the stock’s previous close.

Several other equities analysts have also commented on the company. Argus reissued a “buy” rating and issued a $200.00 target price on shares of CoreWeave in a report on Thursday, August 14th. Mizuho set a $120.00 target price on CoreWeave in a research report on Tuesday. Macquarie boosted their target price on CoreWeave from $115.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Arete Research raised CoreWeave from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Finally, HSBC assumed coverage on shares of CoreWeave in a report on Wednesday, July 16th. They set a “reduce” rating and a $32.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.79.

CoreWeave Stock Up 1.5%

Shares of CoreWeave stock opened at $105.61 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. CoreWeave has a 52-week low of $33.51 and a 52-week high of $187.00. The company has a market capitalization of $51.60 billion and a P/E ratio of -92.64. The company has a 50 day moving average of $123.42 and a 200 day moving average of $118.50.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). The firm had revenue of $1.21 million for the quarter. CoreWeave’s revenue for the quarter was up 206.7% on a year-over-year basis.

Insider Transactions at CoreWeave

In related news, SVP Chen Goldberg sold 19,180 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $118.30, for a total value of $2,268,994.00. Following the completion of the sale, the senior vice president owned 37,084 shares in the company, valued at $4,387,037.20. This represents a 34.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian M. Venturo sold 29,916 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $127.94, for a total transaction of $3,827,453.04. Following the transaction, the insider directly owned 215,486 shares in the company, valued at $27,569,278.84. The trade was a 12.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,743,427 shares of company stock valued at $4,592,624,537 over the last ninety days.

Institutional Investors Weigh In On CoreWeave

Institutional investors and hedge funds have recently made changes to their positions in the business. Family Legacy Financial Solutions LLC grew 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 acquired a new stake in CoreWeave during the 3rd quarter worth approximately $27,000. OLD Second National Bank of Aurora acquired a new stake in CoreWeave during the 3rd quarter worth approximately $27,000. Princeton Global Asset Management LLC purchased a new position in shares of CoreWeave in the 3rd quarter valued at approximately $28,000. Finally, Aspect Partners LLC acquired a new position in shares of CoreWeave in the third quarter valued at approximately $28,000.

CoreWeave 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.