CoreWeave (NASDAQ:CRWV – Get Free Report) had its price target decreased by analysts at Barclays from $120.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 23.19% from the stock’s current price.
A number of other research analysts have also recently issued reports on the company. Weiss Ratings upgraded CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Wolfe Research restated an “outperform” rating on shares of CoreWeave in a research note on Monday, July 6th. Jefferies Financial Group decreased their price target on shares of CoreWeave from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating and issued a $150.00 price target on shares of CoreWeave in a research note on Wednesday, April 15th. Twenty investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, CoreWeave currently has an average rating of “Moderate Buy” and an average price target of $137.58.
Check Out Our Latest Analysis on CRWV
CoreWeave Stock Performance
CoreWeave (NASDAQ:CRWV – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.08 billion for the quarter. During the same period in the previous year, the firm earned ($0.60) EPS. CoreWeave’s revenue was up 111.6% on a year-over-year basis. As a group, research analysts predict that CoreWeave will post -4.57 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Brannin Mcbee sold 53,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $86.13, for a total transaction of $4,564,890.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 61,797 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total value of $5,372,631.18. Following the completion of the sale, the chief executive officer directly owned 2,876,815 shares of the company’s stock, valued at $250,110,296.10. The trade was a 2.10% 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. Insiders have sold a total of 19,885,161 shares of company stock valued at $2,326,801,573 over the last 90 days. 24.20% of the stock is owned by insiders.
Institutional Trading of CoreWeave
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWV. Pin Oak Investment Advisors Inc. purchased a new position in shares of CoreWeave during the third quarter valued at approximately $34,000. Cornerstone Planning Group LLC raised its position in CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in CoreWeave by 45.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after buying an additional 121 shares during the last quarter. Greenline Wealth Management LLC bought a new position in CoreWeave during the 4th quarter valued at $28,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in CoreWeave during the 1st quarter valued at $31,000.
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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