CoreWeave (NASDAQ:CRWV) Rating Lowered to “Neutral” at Bank of America

CoreWeave (NASDAQ:CRWV) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports.

A number of other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on CoreWeave in a research note on Tuesday, April 22nd. They issued a “hold” rating and a $45.00 price target on the stock. Mizuho boosted their price target on CoreWeave from $46.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Melius assumed coverage on CoreWeave in a report on Tuesday, April 22nd. They set a “hold” rating and a $40.00 price objective on the stock. Barclays restated an “equal weight” rating and set a $100.00 price target (up from $70.00) on shares of CoreWeave in a report on Tuesday, May 27th. Finally, Jefferies Financial Group began coverage on shares of CoreWeave in a research report on Tuesday, April 22nd. They set a “buy” rating and a $51.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CoreWeave presently has a consensus rating of “Hold” and an average price target of $65.00.

CoreWeave Trading Up 8.5%

NASDAQ CRWV traded up $13.43 on Monday, hitting $171.93. The stock had a trading volume of 32,272,933 shares, compared to its average volume of 33,563,592. CoreWeave has a one year low of $33.51 and a one year high of $175.38. The firm’s 50-day simple moving average is $81.67.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings results 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).

Insider Activity at CoreWeave

In other CoreWeave news, insider Kristen J. Mcveety sold 69,460 shares of the company’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 $2,778,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the 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 owns 231,811 shares of the company’s stock, valued at $9,272,440. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in CoreWeave stock. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave Inc. (NASDAQ:CRWV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,575 shares of the company’s stock, valued at approximately $318,000.

CoreWeave 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.