Needham & Company LLC Reiterates Hold Rating for CoreWeave (NASDAQ:CRWV)

CoreWeave (NASDAQ:CRWV)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a report issued on Wednesday,Benzinga reports.

Several other research firms have also recently commented on CRWV. Melius Research upgraded CoreWeave to a “hold” rating in a research note on Tuesday, April 22nd. HC Wainwright reiterated a “neutral” rating on shares of CoreWeave in a research note on Wednesday. Citigroup upgraded 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. Moffett Nathanson initiated coverage on CoreWeave in a research note on Monday, May 5th. They set a “neutral” rating and a $43.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on CoreWeave from $43.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.80.

CoreWeave Stock Performance

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

CoreWeave (NASDAQ:CRWV) last released its earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The business had revenue of $1.21 million during the quarter. CoreWeave’s quarterly revenue was up 206.7% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in CoreWeave in the 2nd quarter valued at $33,000. Archer Investment Corp acquired a new position in CoreWeave in the 2nd quarter valued at $34,000. Chilton Capital Management LLC acquired a new position in CoreWeave in the 2nd quarter valued at $39,000. Montag A & Associates Inc. acquired a new position in CoreWeave in the 2nd quarter valued at $49,000. Finally, TD Waterhouse Canada Inc. acquired a new position in CoreWeave in the 2nd quarter valued at $47,000.

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.