CoreWeave (NASDAQ:CRWV) Trading Up 5.9% – Time to Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price shot up 5.9% during mid-day trading on Monday . The stock traded as high as $88.26 and last traded at $85.86. 25,670,447 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 26,897,281 shares. The stock had previously closed at $81.11.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRWV. DA Davidson lifted their price target on CoreWeave from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Citizens Jmp reissued a “market outperform” rating and set a $180.00 price objective on shares of CoreWeave in a research report on Friday, February 27th. Truist Financial boosted their target price on shares of CoreWeave from $84.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $131.00 target price on shares of CoreWeave in a research report on Friday, February 27th. Finally, Mizuho decreased their price target on shares of CoreWeave from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $122.35.

CoreWeave Trading Up 5.9%

The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market cap of $35.98 billion and a P/E ratio of -26.83. The stock has a 50-day moving average of $88.89 and a two-hundred day moving average of $98.25.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion for the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The company’s quarterly revenue was up 110.4% compared to the same quarter last year.

Insider Activity at CoreWeave

In other CoreWeave news, insider Brannin Mcbee sold 300,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $72.61, for a total transaction of $21,783,000.00. Following the sale, the insider directly owned 248,664 shares in the company, valued at approximately $18,055,493.04. This trade represents a 54.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian M. Venturo sold 281,250 shares of CoreWeave stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $79.36, for a total value of $22,320,000.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,585,885 shares of company stock valued at $387,110,134.

Hedge Funds Weigh In On CoreWeave

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Capital LLC grew its holdings in shares of CoreWeave by 49.9% in the third quarter. Renaissance Capital LLC now owns 47,162 shares of the company’s stock worth $6,454,000 after acquiring an additional 15,697 shares during the period. Munro Partners boosted its position in CoreWeave by 5,272.4% in the third quarter. Munro Partners now owns 616,485 shares of the company’s stock worth $84,366,000 after purchasing an additional 605,010 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of CoreWeave during the 3rd quarter valued at about $4,241,000. HWG Holdings LP bought a new stake in shares of CoreWeave during the 3rd quarter valued at about $1,863,000. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of CoreWeave during the 2nd quarter valued at about $5,692,000.

About CoreWeave

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.