CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Up 11.6% – Here’s Why

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) were up 11.6% on Monday . The company traded as high as $158.90 and last traded at $156.41. Approximately 11,492,324 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 21,330,088 shares. The stock had previously closed at $140.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of CoreWeave, Inc. Class A Common Stock in a research report on Thursday, May 15th. JMP Securities assumed coverage on CoreWeave, Inc. Class A Common Stock in a research report on Thursday, May 22nd. They issued a “market perform” rating for the company. Morgan Stanley lifted their price objective on CoreWeave, Inc. Class A Common Stock from $46.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, May 15th. Wells Fargo & Company increased their target price on shares of CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. Finally, Moffett Nathanson initiated coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Monday, May 5th. They set a “neutral” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.00.

CoreWeave, Inc. Class A Common Stock Trading Up 15.2%

The company has a 50 day moving average price of $69.24.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last announced its earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insider Buying and Selling

In related news, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the transaction, the chief financial officer now owns 231,811 shares of the company’s stock, valued at $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of CoreWeave, Inc. Class A Common Stock stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new position in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,575 shares of the company’s stock, valued at approximately $318,000.

CoreWeave, Inc. Class A Common Stock 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.