Evercore ISI Issues Pessimistic Forecast for CoreWeave (NASDAQ:CRWV) Stock Price

CoreWeave (NASDAQ:CRWV) had its price objective reduced by analysts at Evercore ISI from $175.00 to $160.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 87.29% from the company’s previous close.

CRWV has been the topic of several other reports. Melius Research set a $140.00 price objective on shares of CoreWeave in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of CoreWeave in a research report on Wednesday, August 13th. Wells Fargo & Company upgraded shares of CoreWeave from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $105.00 to $170.00 in a research report on Tuesday, September 23rd. JMP Securities raised CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price target for the company in a research note on Tuesday, September 16th. Finally, Mizuho reduced their price objective on CoreWeave from $150.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, CoreWeave presently has an average rating of “Moderate Buy” and an average target price of $127.86.

CoreWeave Stock Down 3.3%

CRWV opened at $85.43 on Tuesday. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52. CoreWeave has a one year low of $33.51 and a one year high of $187.00. The firm has a market capitalization of $41.74 billion and a P/E ratio of -74.94. The company has a fifty day moving average price of $123.24 and a 200-day moving average price of $118.60.

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

Insider Activity

In other news, SVP Chen Goldberg sold 19,180 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $118.30, for a total transaction of $2,268,994.00. Following the completion of the sale, the senior vice president directly owned 37,084 shares in the company, valued at approximately $4,387,037.20. This represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Magnetar Financial Llc sold 7,688 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $134.94, for a total value of $1,037,418.72. Following the completion of the sale, the insider directly owned 299,512 shares in the company, valued at $40,416,149.28. The trade was a 2.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 36,743,427 shares of company stock valued at $4,592,624,537.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Apexium Financial LP bought a new position in shares of CoreWeave during the second quarter valued at $1,044,000. Chung Wu Investment Group LLC purchased a new stake in CoreWeave during the 2nd quarter valued at about $755,000. Cisco Systems Inc. purchased a new stake in CoreWeave during the 2nd quarter valued at about $173,493,000. Gamco Investors INC. ET AL bought a new stake in CoreWeave during the 1st quarter valued at about $318,000. Finally, Rockline Wealth Management LLC purchased a new position in CoreWeave in the second quarter worth about $951,000.

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.