CoreWeave (NASDAQ:CRWV) Trading Down 16.3% After Analyst Downgrade

CoreWeave Inc. (NASDAQ:CRWV) shares dropped 16.3% during trading on Tuesday after Macquarie lowered their price target on the stock from $140.00 to $115.00. Macquarie currently has a neutral rating on the stock. CoreWeave traded as low as $88.00 and last traded at $88.39. Approximately 75,769,849 shares changed hands during trading, an increase of 223% from the average daily volume of 23,432,158 shares. The stock had previously closed at $105.61.

Other research analysts have also recently issued reports about the company. Arete Research upgraded CoreWeave from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. HSBC began coverage on shares of CoreWeave in a research note on Wednesday, July 16th. They set a “reduce” rating and a $32.00 price objective on the stock. Bank of America decreased their target price on shares of CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday. Raymond James Financial started coverage on shares of CoreWeave in a report on Monday, September 15th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $174.00 price objective on shares of CoreWeave in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, CoreWeave presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.89.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the completion of the sale, the insider directly owned 363,631 shares in the company, valued at approximately $45,672,053.60. The trade was a 79.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack D. Cogen sold 1,112,004 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $94.69, for a total value of $105,295,658.76. Following the transaction, the director directly owned 12,329,676 shares of the company’s stock, valued at $1,167,497,020.44. The trade was a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 36,743,427 shares of company stock worth $4,592,624,537.

Institutional Trading of CoreWeave

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

CoreWeave Stock Performance

The company has a market cap of $43.18 billion and a PE ratio of -77.54. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.52 and a current ratio of 0.52. The firm’s 50 day moving average is $123.33 and its 200-day moving average is $118.83.

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

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.