JPMorgan Chase & Co. Raises CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Price Target to $66.00

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $43.00 to $66.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 17.81% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Barclays boosted their target price on shares of CoreWeave, Inc. Class A Common Stock from $48.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. The Goldman Sachs Group assumed coverage on shares of CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $54.00 price objective on the stock. Macquarie increased their target price on shares of CoreWeave, Inc. Class A Common Stock from $56.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday. Northland Capmk raised shares of CoreWeave, Inc. Class A Common Stock to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus assumed coverage on shares of CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.25.

CoreWeave, Inc. Class A Common Stock Stock Performance

Shares of NASDAQ:CRWV opened at $80.30 on Friday. CoreWeave, Inc. Class A Common Stock has a 12 month low of $33.51 and a 12 month high of $84.00.

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

Insiders Place Their Bets

In other news, CFO Nitin Agrawal sold 12,720 shares of the business’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 value of $508,800.00. Following the sale, the chief financial officer now owns 231,811 shares of the company’s stock, valued at $9,272,440. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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. Over the last 90 days, insiders have sold 302,940 shares of company stock valued at $13,786,546.

Hedge Funds Weigh In On 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 stake in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.