CoreWeave (NASDAQ:CRWV) Shares Gap Up on Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV)’s share price gapped up before the market opened on Thursday after Morgan Stanley raised their price target on the stock from $58.00 to $91.00. The stock had previously closed at $102.89, but opened at $112.63. Morgan Stanley currently has an equal weight rating on the stock. CoreWeave shares last traded at $116.30, with a volume of 7,529,401 shares traded.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group started coverage on shares of CoreWeave in a research note on Tuesday, April 22nd. They set a “buy” rating and a $51.00 target price on the stock. Melius Research upgraded shares of CoreWeave to a “hold” rating in a report on Tuesday, April 22nd. Macquarie raised their target price on CoreWeave from $56.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. JMP Securities started coverage on CoreWeave in a research note on Thursday, May 22nd. They set a “market perform” rating on the stock. Finally, Wall Street Zen lowered CoreWeave from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.20.

Institutional Trading of CoreWeave

Several institutional investors have recently made changes to their positions in CRWV. Western Pacific Wealth Management LP bought a new position in shares of CoreWeave during the second quarter valued at about $82,000. RFG Holdings Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at about $1,450,000. Aua Capital Management LLC bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $397,000. Sivia Capital Partners LLC purchased a new position in shares of CoreWeave in the 2nd quarter worth approximately $39,824,000. Finally, Wesbanco Bank Inc. bought a new position in shares of CoreWeave in the second quarter valued at approximately $212,000.

CoreWeave Stock Up 10.9%

The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44. The firm’s fifty day moving average is $140.98.

CoreWeave (NASDAQ:CRWV) last announced 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).

About CoreWeave

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.