CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Down 0.9% Following Weak Earnings

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)’s stock price was down 0.9% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $61.33 and last traded at $66.83. Approximately 15,721,271 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 12,477,002 shares. The stock had previously closed at $67.46.

The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.67).

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRWV shares. Wells Fargo & Company increased their price target on CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday. Moffett Nathanson started coverage on CoreWeave, Inc. Class A Common Stock in a research report on Monday, May 5th. They set a “neutral” rating and a $43.00 target price for the company. Northland Capmk raised CoreWeave, Inc. Class A Common Stock to a “strong-buy” rating in a research report on Tuesday. Melius Research raised CoreWeave, Inc. Class A Common Stock to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Barclays raised their target price on CoreWeave, Inc. Class A Common Stock from $48.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CoreWeave, Inc. Class A Common Stock currently has a consensus rating of “Hold” and an average target price of $53.38.

Insider Transactions at CoreWeave, Inc. Class A Common Stock

In related news, CFO Nitin Agrawal sold 12,720 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the sale, the chief financial officer now directly owns 231,811 shares of the company’s stock, valued at $9,272,440. The trade was a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of the business’s stock in a transaction dated 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. In the last ninety days, insiders sold 302,940 shares of company stock valued at $13,786,546.

Institutional Trading of CoreWeave, Inc. Class A Common Stock

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

CoreWeave, Inc. Class A Common Stock Stock Performance

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.