Morgan Stanley Forecasts Strong Price Appreciation for CoreWeave (NASDAQ:CRWV) Stock

CoreWeave (NASDAQ:CRWV) had its price target raised by analysts at Morgan Stanley from $91.00 to $99.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 15.88% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Barclays raised their price objective on CoreWeave from $100.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Melius upgraded CoreWeave from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Tuesday, September 23rd. Melius Research set a $140.00 price objective on shares of CoreWeave in a research report on Tuesday. Argus reiterated a “buy” rating and set a $200.00 price objective on shares of CoreWeave in a research note on Thursday, August 14th. Finally, Citizens Jmp raised shares of CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.86.

CoreWeave Price Performance

NASDAQ:CRWV opened at $85.43 on Tuesday. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00. 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 simple moving average is $123.24 and its 200 day simple moving average is $118.60. The firm has a market cap of $41.74 billion and a price-to-earnings ratio of -74.94.

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

Insider Activity at CoreWeave

In other CoreWeave news, SVP Chen Goldberg sold 19,180 shares of the business’s stock in a transaction on 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 sale, the senior vice president owned 37,084 shares of the company’s stock, valued at approximately $4,387,037.20. The trade was a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael N. Intrator sold 32,455 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $113.97, for a total value of $3,698,896.35. Following the completion of the transaction, the chief executive officer owned 6,991,055 shares of the company’s stock, valued at $796,770,538.35. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 36,743,427 shares of company stock worth $4,592,624,537.

Institutional Trading of CoreWeave

A number of hedge funds have recently made changes to their positions in CRWV. Nvidia Corp increased its stake in shares of CoreWeave by 0.4% in the second quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock valued at $3,958,701,000 after buying an additional 95,113 shares during the period. Vanguard Group Inc. grew its holdings in CoreWeave by 109.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after acquiring an additional 3,888,164 shares during the last quarter. Cisco Systems Inc. bought a new stake in CoreWeave during the 2nd quarter worth approximately $173,493,000. Voya Investment Management LLC acquired a new position in CoreWeave in the 3rd quarter valued at approximately $110,562,000. Finally, Geode Capital Management LLC raised its stake in shares of CoreWeave by 142.6% during the second quarter. Geode Capital Management LLC now owns 716,178 shares of the company’s stock valued at $116,809,000 after acquiring an additional 420,915 shares during the last quarter.

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.