CoreWeave Inc. (NASDAQ:CRWV – Get Free Report) rose 1.7% on Thursday. The company traded as high as $88.88 and last traded at $88.57. Approximately 20,329,548 shares were traded during trading, a decline of 29% from the average session volume of 28,453,834 shares. The stock had previously closed at $87.12.
More CoreWeave News
Here are the key news stories impacting CoreWeave this week:
- Positive Sentiment: New NVIDIA platform access strengthens CoreWeave’s AI offering. CoreWeave announced support for NVIDIA Vera CPUs and availability of the Vera Rubin NVL72 system, with Cognition identified as its first production customer. The additions could help the company capture demand for AI-agent and other advanced workloads. CoreWeave Delivers NVIDIA Vera Rubin NVL72 Performance at Production Scale
- Positive Sentiment: CoreWeave launched Forge and a Partner Network to simplify AI development and connect customers with validated integrations from partners including CrowdStrike, VAST Data, Reflection and ClickHouse. The initiatives may expand enterprise adoption and improve the company’s competitive position as AI-cloud demand grows. CoreWeave Unveils Forge for AI Development
- Positive Sentiment: William Blair initiated coverage with an Outperform rating. The firm cited substantial demand from rapid AI scaling, while other recent bullish commentary points to premium pricing, rising revenue per gigawatt and a large backlog. William Blair Starts Coverage of CoreWeave
- Neutral Sentiment: CEO Michael Intrator said data-center regulations and local opposition could shift where facilities are built, but have not reduced underlying demand for AI computing capacity. CoreWeave CEO Says Data Center Backlash Isn’t Scaring Off AI Giants
- Negative Sentiment: Credit-market caution remains a major overhang. Commentary highlights concerns about CoreWeave’s heavy debt burden, funding needs and ability to convert strong backlog growth into sustainable cash flow. A pending investor lawsuit adds further headline risk. CoreWeave: The Bond Market Remains Cautious
Analysts Set New Price Targets
Several research firms recently commented on CRWV. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $150.00 target price on shares of CoreWeave in a report on Friday, August 7th. Rothschild & Co Redburn initiated coverage on shares of CoreWeave in a research note on Monday, September 21st. They set a “sell” rating and a $54.00 price objective on the stock. Jefferies Financial Group lowered shares of CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Sanford C. Bernstein increased their price target on shares of CoreWeave from $67.00 to $74.00 and gave the stock an “underperform” rating in a report on Wednesday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of CoreWeave in a research report on Monday. Twenty-three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.78.
CoreWeave Stock Up 1.7%
The business has a 50-day moving average price of $86.55 and a 200-day moving average price of $94.65. The stock has a market cap of $40.64 billion, a PE ratio of -24.27 and a beta of 7.45. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 5.53.
CoreWeave (NASDAQ:CRWV – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.38. The company had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business’s revenue was up 112.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.27) earnings per share. As a group, analysts forecast that CoreWeave Inc. will post -5.2 earnings per share for the current year.
Insider Transactions at CoreWeave
In other news, CEO Michael Intrator sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $86.82, for a total value of $17,364,000.00. Following the transaction, the chief executive officer owned 687,129 shares in the company, valued at $59,656,539.78. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Nitin Agrawal sold 55,764 shares of CoreWeave stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $86.83, for a total value of $4,841,988.12. Following the completion of the sale, the chief financial officer directly owned 132,596 shares in the company, valued at $11,513,310.68. This represents a 29.61% 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. In the last quarter, insiders have sold 5,908,407 shares of company stock valued at $513,390,836. 24.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On CoreWeave
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRWV. QRG Capital Management Inc. grew its holdings in shares of CoreWeave by 8.4% during the second quarter. QRG Capital Management Inc. now owns 21,810 shares of the company’s stock worth $2,171,000 after buying an additional 1,692 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in CoreWeave during the second quarter worth about $378,000. Envestnet Asset Management Inc. boosted its position in CoreWeave by 68.6% during the second quarter. Envestnet Asset Management Inc. now owns 71,795 shares of the company’s stock worth $7,146,000 after acquiring an additional 29,216 shares during the last quarter. State Street Corp grew its stake in CoreWeave by 139.7% during the 2nd quarter. State Street Corp now owns 7,058,846 shares of the company’s stock valued at $702,638,000 after acquiring an additional 4,113,873 shares in the last quarter. Finally, Wellington Altus USA Inc. raised its holdings in CoreWeave by 256.0% in the 2nd quarter. Wellington Altus USA Inc. now owns 534 shares of the company’s stock valued at $53,000 after acquiring an additional 384 shares during the last quarter.
About CoreWeave
CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning and other data-intensive workloads. The company offers access to accelerated computing resources, including graphics processing units (GPUs), alongside central processing units, high-performance storage, networking and data center capacity.
Its platform supports AI model training, fine-tuning and inference, as well as visual effects, rendering, scientific computing and other demanding applications.
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