Needham & Company LLC Reaffirms “Buy” Rating for CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $55.00 price target on the stock. Needham & Company LLC’s target price indicates a potential downside of 31.51% from the stock’s current price.

CRWV has been the topic of several other reports. Northland Capmk upgraded shares of CoreWeave, Inc. Class A Common Stock to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. started coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $43.00 target price for the company. Stifel Nicolaus started coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $55.00 target price for the company. Melius Research raised CoreWeave, Inc. Class A Common Stock to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a “hold” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CoreWeave, Inc. Class A Common Stock has a consensus rating of “Hold” and an average price target of $55.25.

CoreWeave, Inc. Class A Common Stock Trading Up 22.1%

Shares of CRWV opened at $80.30 on Thursday. CoreWeave, Inc. Class A Common Stock has a twelve month low of $33.51 and a twelve month high of $84.00.

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

Insider Buying and Selling

In related news, Director Jack D. Cogen sold 220,760 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $47.56, for a total value of $10,499,345.60. Following the completion of the sale, the director now owns 126,220 shares of the company’s stock, valued at $6,003,023.20. This trade represents a 63.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Nitin Agrawal sold 12,720 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold 302,940 shares of company stock valued at $13,786,546 over the last quarter.

Institutional Trading of CoreWeave, Inc. Class A Common Stock

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

About CoreWeave, Inc. Class A Common Stock

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.