Shares of CoreWeave Inc. (NASDAQ:CRWV – Get Free Report) shot up 5.8% on Monday . The company traded as high as $87.54 and last traded at $86.46. 21,600,592 shares traded hands during trading, a decline of 25% from the average session volume of 28,715,322 shares. The stock had previously closed at $81.75.
CoreWeave News Roundup
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: CoreWeave said Galaxy Digital completed delivery of major power capacity for its Helios data center, giving the company more electricity to support its AI buildout. The update also said CoreWeave has secured more than $40 billion in new commitments, lifting its contracted revenue backlog to nearly $100 billion, which reinforces the growth case. CoreWeave (CRWV) Secures Helios Power As New Commitments Reach $40 Billion
- Positive Sentiment: Several analysts and commentators argued the recent selloff may be overdone, with bullish pieces pointing to continued data center demand, valuation support, and upside if CoreWeave keeps converting backlog into revenue. CoreWeave: Why The Selloff Is Wrong (Rating Upgrade)
- Neutral Sentiment: Some coverage says Meta Platforms’ move into cloud computing is a warning sign for CoreWeave, but other articles argue the AI infrastructure market is large enough to support multiple players and that Meta’s entry may not materially derail CoreWeave’s momentum. Meta Platforms Is Entering the Neocloud Business. Here’s Why CoreWeave Investors Should Not Worry.
- Negative Sentiment: Bearish commentary is still pressuring sentiment, with articles warning that increased hyperscaler competition and Meta’s cloud ambitions could threaten CoreWeave’s pricing power and future growth expectations. CoreWeave: Downgrading On Increased Hyperscaler Competition
Analyst Upgrades and Downgrades
Several equities analysts have commented on CRWV shares. Barclays increased their target price on CoreWeave from $106.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Evercore reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of CoreWeave in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, Truist Financial lifted their target price on shares of CoreWeave from $85.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Twenty-one 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.
CoreWeave Price Performance
The stock has a market cap of $40.28 billion, a P/E ratio of -28.94 and a beta of 7.17. The business has a 50-day simple moving average of $106.32 and a 200 day simple moving average of $95.12. 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:CRWV – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company had revenue of $2.08 billion for the quarter. During the same period last year, the business earned ($0.60) EPS. CoreWeave’s revenue was up 111.6% compared to the same quarter last year. On average, analysts forecast that CoreWeave Inc. will post -4.57 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Brian M. Venturo sold 1,125,000 shares of the company’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $110.82, for a total value of $124,672,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the insider owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. This trade represents a 83.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 25,674,357 shares of company stock worth $3,016,622,554.
Institutional Trading of CoreWeave
A number of large investors have recently bought and sold shares of CRWV. Vanguard Group Inc. boosted its position in shares of CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after purchasing an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Bank of America Corp DE lifted its stake in CoreWeave by 13.1% in the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after buying an additional 653,398 shares during the period. Clear Street Group Inc. lifted its stake in CoreWeave by 57.2% in the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock valued at $333,260,000 after buying an additional 1,692,916 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock worth $286,440,000 after buying an additional 3,000,000 shares in the last quarter.
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.
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