CoreWeave (NASDAQ:CRWV) Trading 4.2% Higher – Here’s Why

CoreWeave Inc. (NASDAQ:CRWVGet Free Report) rose 4.2% during trading on Tuesday . The company traded as high as $99.79 and last traded at $99.54. Approximately 18,395,703 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 28,475,930 shares. The stock had previously closed at $95.51.

Key CoreWeave News

Here are the key news stories impacting CoreWeave this week:

Wall Street Analyst Weigh In

CRWV has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wolfe Research began coverage on shares of CoreWeave in a research report on Thursday, April 16th. They set an “outperform” rating and a $150.00 price target on the stock. Mizuho boosted their price target on shares of CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Bank of America raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Tuesday, March 24th. Finally, Roth Mkm reiterated a “buy” rating and issued a $150.00 price objective on shares of CoreWeave in a research note on Friday, May 8th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.00.

View Our Latest Analysis on CRWV

CoreWeave Trading Down 4.6%

The stock has a market capitalization of $36.59 billion, a PE ratio of -26.29 and a beta of 7.14. The firm has a 50-day moving average price of $108.96 and a 200-day moving average price of $94.78. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWVGet Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). The business had revenue of $2.08 billion for the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.CoreWeave’s revenue for the quarter was up 111.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.60) EPS. As a group, equities analysts forecast that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the transaction, the insider directly owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. This represents a 83.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian M. Venturo sold 1,125,000 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $110.82, for a total value of $124,672,500.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,575,216 shares of company stock worth $3,082,804,242 over the last three months.

Institutional Investors Weigh In On CoreWeave

Several large investors have recently added to or reduced their stakes in CRWV. Parallel Advisors LLC boosted its position in CoreWeave by 4.0% during the first quarter. Parallel Advisors LLC now owns 2,340 shares of the company’s stock worth $181,000 after purchasing an additional 91 shares during the period. Pathway Wealth Management LLC raised its position in shares of CoreWeave by 2.9% in the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock valued at $278,000 after purchasing an additional 100 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in shares of CoreWeave by 2.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock valued at $389,000 after buying an additional 104 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in CoreWeave by 34.7% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock worth $33,000 after buying an additional 119 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in CoreWeave by 45.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after buying an additional 121 shares during the period.

CoreWeave Company Profile

(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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