CoreWeave (NASDAQ:CRWV) Upgraded at Citigroup

Citigroup upgraded shares of CoreWeave (NASDAQ:CRWV) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have $160.00 price objective on the stock.

A number of other research firms have also recently weighed in on CRWV. Bank of America cut CoreWeave from a “buy” rating to a “neutral” rating in a report on Monday, June 16th. The Goldman Sachs Group boosted their target price on shares of CoreWeave from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Morgan Stanley raised their price target on shares of CoreWeave from $46.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 15th. DA Davidson reiterated an “underperform” rating and set a $36.00 price target on shares of CoreWeave in a report on Tuesday, June 10th. Finally, Stifel Nicolaus set a $115.00 price objective on shares of CoreWeave and gave the company a “hold” rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.20.

CoreWeave Trading Down 8.8%

NASDAQ:CRWV opened at $104.14 on Thursday. CoreWeave has a 1 year low of $33.51 and a 1 year high of $187.00. 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 business has a fifty day simple moving average of $141.29.

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

Institutional Trading of CoreWeave

Hedge funds have recently modified their holdings of the company. Cisco Systems Inc. bought a new position in CoreWeave in the 2nd quarter worth approximately $173,493,000. Sivia Capital Partners LLC acquired a new stake in shares of CoreWeave in the 2nd quarter valued at $39,824,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of CoreWeave during the second quarter worth $34,284,000. CWM LLC raised its position in shares of CoreWeave by 283.0% during the second quarter. CWM LLC now owns 166,663 shares of the company’s stock worth $27,176,000 after acquiring an additional 123,147 shares during the last quarter. Finally, Carnegie Investment Counsel acquired a new position in shares of CoreWeave during the second quarter valued at $15,073,000.

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.