CoreWeave (NASDAQ:CRWV) Shares Gap Up – Here’s What Happened

CoreWeave Inc. (NASDAQ:CRWV)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $74.92, but opened at $82.62. CoreWeave shares last traded at $80.11, with a volume of 11,478,994 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group decreased their price objective on CoreWeave from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of CoreWeave in a research note on Wednesday, August 13th. Jefferies Financial Group lowered their price target on CoreWeave from $180.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Mizuho cut their price target on CoreWeave from $150.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Arete upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.14.

CoreWeave Price Performance

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. The stock’s fifty day moving average is $121.10 and its 200-day moving average is $119.71. The stock has a market capitalization of $31.05 billion and a PE ratio of -55.42.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted ($1.82) EPS. CoreWeave’s revenue was up 133.7% compared to the same quarter last year. CoreWeave has set its FY 2025 guidance at EPS.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, SVP Chen Goldberg sold 13,740 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $90.79, for a total value of $1,247,454.60. Following the completion of the sale, the senior vice president directly owned 23,344 shares in the company, valued at $2,119,401.76. This represents a 37.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Magnetar Financial Llc sold 7,688 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $134.94, for a total value of $1,037,418.72. Following the completion of the sale, the insider directly owned 299,512 shares of the company’s stock, valued at $40,416,149.28. This trade represents a 2.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,615,739 shares of company stock worth $4,284,590,906 in the last quarter.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC grew its stake in shares of CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after buying an additional 17,847,760 shares in the last quarter. Vanguard Group Inc. grew its holdings in CoreWeave by 109.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after acquiring an additional 3,888,164 shares in the last quarter. Invesco Ltd. lifted its holdings in CoreWeave by 55,329.7% during the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after buying an additional 2,993,889 shares during the last quarter. Clear Street Group Inc. purchased a new position in CoreWeave in the third quarter valued at approximately $405,199,000. Finally, Lavaca Capital LLC acquired a new stake in CoreWeave during the 3rd quarter worth $273,700,000.

About CoreWeave

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.