CoreWeave (NASDAQ:CRWV) Stock Price Up 13.4% on Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV)’s share price rose 13.4% on Thursday after Morgan Stanley raised their price target on the stock from $58.00 to $91.00. Morgan Stanley currently has an equal weight rating on the stock. CoreWeave traded as high as $118.98 and last traded at $116.66. Approximately 10,950,953 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 18,950,332 shares. The stock had previously closed at $102.89.

Other analysts have also issued research reports about the company. HC Wainwright restated a “neutral” rating on shares of CoreWeave in a report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on CoreWeave from $43.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Melius Research raised CoreWeave to a “hold” rating in a report on Tuesday, April 22nd. Hsbc Global Res raised CoreWeave to a “moderate sell” rating in a report on Thursday, July 17th. Finally, Arete started coverage on CoreWeave in a report on Thursday, June 5th. They set a “neutral” rating and a $130.00 target price for the company. Three investment 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. According to MarketBeat.com, CoreWeave has an average rating of “Hold” and a consensus target price of $90.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRWV. Gamco Investors INC. ET AL acquired a new position in CoreWeave during the first quarter valued at $318,000. Goldman Sachs Group Inc. acquired a new position in CoreWeave in the 1st quarter worth about $963,000. Howard Financial Services LTD. acquired a new position in CoreWeave in the 2nd quarter worth about $489,000. McAlister Sweet & Associates Inc. acquired a new position in CoreWeave in the 2nd quarter worth about $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in CoreWeave in the 2nd quarter worth about $117,000.

CoreWeave Price Performance

The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.60. The stock has a 50-day moving average price of $140.98.

CoreWeave (NASDAQ:CRWV) last issued its 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).

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.