CoreWeave (NASDAQ:CRWV) Sets New 1-Year High – Should You Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $175.38 and last traded at $171.93, with a volume of 32272933 shares traded. The stock had previously closed at $158.50.

Wall Street Analyst Weigh In

Several analysts have weighed in on CRWV shares. Melius Research raised shares of CoreWeave to a “hold” rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group boosted their target price on CoreWeave from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Citigroup boosted their target price on CoreWeave from $43.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, May 21st. Bank of America lowered CoreWeave from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Barclays reiterated an “equal weight” rating and issued a $100.00 price objective (up previously from $70.00) on shares of CoreWeave in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.00.

CoreWeave Price Performance

The company’s fifty day moving average is $84.13.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insiders Place Their Bets

In other CoreWeave news, CFO Nitin Agrawal sold 12,720 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $508,800.00. Following the completion of the transaction, the chief financial officer now owns 231,811 shares of the company’s stock, valued at approximately $9,272,440. This trade 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 accessible through this link. Also, insider Kristen J. Mcveety sold 69,460 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Trading of CoreWeave

A hedge fund recently bought a new stake in CoreWeave stock. Gamco Investors INC. ET AL acquired a new stake in shares of CoreWeave Inc. (NASDAQ:CRWV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,575 shares of the company’s stock, valued at approximately $318,000.

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.