CoreWeave (NASDAQ:CRWV) Stock Price Expected to Rise, Macquarie Analyst Says

CoreWeave (NASDAQ:CRWV) had its price target boosted by Macquarie from $65.00 to $115.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s price objective suggests a potential upside of 15.58% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of CoreWeave from $43.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. JMP Securities began coverage on shares of CoreWeave in a research note on Thursday, May 22nd. They issued a “market perform” rating on the stock. Citigroup raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Thursday, July 31st. DA Davidson reaffirmed an “underperform” rating and set a $36.00 price target on shares of CoreWeave in a research note on Tuesday, June 10th. Finally, Jefferies Financial Group initiated coverage on shares of CoreWeave in a research note on Tuesday, April 22nd. They set a “buy” rating and a $51.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $99.80.

CoreWeave Price Performance

Shares of NASDAQ CRWV opened at $99.50 on Wednesday. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00. The company has a 50-day simple moving average of $140.45. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.44 and a current ratio of 0.44.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). The company had revenue of $1.21 million for the quarter. The firm’s revenue for the quarter was up 206.7% compared to the same quarter last year.

Institutional Investors Weigh In On CoreWeave

Several hedge funds have recently modified their holdings of the stock. Costello Asset Management INC raised its holdings in CoreWeave by 33.3% in the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock valued at $65,000 after buying an additional 100 shares during the period. Chelsea Counsel Co. purchased a new position in CoreWeave in the second quarter valued at approximately $33,000. Archer Investment Corp purchased a new position in CoreWeave in the second quarter valued at approximately $34,000. Chilton Capital Management LLC purchased a new position in CoreWeave in the second quarter valued at approximately $39,000. Finally, SOA Wealth Advisors LLC. raised its holdings in CoreWeave by 275.0% in the second quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company’s stock valued at $61,000 after buying an additional 275 shares during the period.

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.