CoreWeave (NASDAQ:CRWV) Shares Gap Down Following Analyst Downgrade

CoreWeave Inc. (NASDAQ:CRWV) gapped down before the market opened on Tuesday after Macquarie lowered their price target on the stock from $140.00 to $115.00. The stock had previously closed at $105.61, but opened at $96.10. Macquarie currently has a neutral rating on the stock. CoreWeave shares last traded at $91.43, with a volume of 25,106,749 shares changing hands.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of CoreWeave in a research note on Wednesday, August 13th. Evercore ISI dropped their target price on CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday. HC Wainwright upgraded shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Thursday, August 21st. Raymond James Financial started coverage on CoreWeave in a report on Monday, September 15th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Loop Capital started coverage on CoreWeave in a research note on Friday, September 19th. They issued a “buy” rating and a $165.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.89.

Insiders Place Their Bets

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 7,688 shares of CoreWeave stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $134.94, for a total transaction of $1,037,418.72. Following the sale, the insider directly owned 299,512 shares of the company’s stock, valued at approximately $40,416,149.28. The trade was a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Chen Goldberg sold 19,180 shares of CoreWeave stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $118.30, for a total transaction of $2,268,994.00. Following the completion of the transaction, the senior vice president directly owned 37,084 shares of the company’s stock, valued at $4,387,037.20. This trade represents a 34.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 36,743,427 shares of company stock worth $4,592,624,537.

Institutional Investors Weigh In On CoreWeave

A number of institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL bought a new stake in shares of CoreWeave in the 1st quarter valued at approximately $318,000. Goldman Sachs Group Inc. purchased a new stake in CoreWeave during the 1st quarter valued at $963,000. Howard Financial Services LTD. bought a new stake in CoreWeave in the second quarter worth $489,000. McAlister Sweet & Associates Inc. purchased a new position in CoreWeave during the second quarter worth $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in CoreWeave during the second quarter valued at $117,000.

CoreWeave Price Performance

The firm has a market cap of $43.18 billion and a P/E ratio of -77.54. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s 50-day simple moving average is $123.33 and its two-hundred day simple moving average is $118.83.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned ($1.82) earnings per share. The business’s revenue for the quarter was up 133.7% compared to the same quarter last year. CoreWeave has set its FY 2025 guidance at EPS.

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.