CoreWeave Inc. (NASDAQ:CRWV) Given Average Recommendation of “Moderate Buy” by Brokerages

CoreWeave Inc. (NASDAQ:CRWV) has been given an average recommendation of “Moderate Buy” by the thirty-three research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $130.1379.

A number of analysts recently weighed in on the stock. JMP Securities upgraded shares of CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 target price on the stock in a research note on Tuesday, September 16th. Melius Research set a $140.00 price objective on shares of CoreWeave in a research report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of CoreWeave in a report on Wednesday, August 13th. The Goldman Sachs Group decreased their price objective on shares of CoreWeave from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. Finally, Citizens Jmp raised 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.

Insider Activity at CoreWeave

In other news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 363,631 shares of the company’s stock, valued at approximately $45,672,053.60. This trade represents a 79.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 29,942,428 shares of company stock valued at $3,924,103,461.

Institutional Investors Weigh In On CoreWeave

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRWV. Gamco Investors INC. ET AL acquired a new stake in shares of CoreWeave in the first quarter valued at approximately $318,000. Goldman Sachs Group Inc. acquired a new stake in CoreWeave during the 1st quarter worth $963,000. Howard Financial Services LTD. purchased a new position in CoreWeave during the 2nd quarter worth $489,000. McAlister Sweet & Associates Inc. purchased a new position in CoreWeave during the 2nd quarter worth $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in CoreWeave in the second quarter valued at $117,000.

CoreWeave Stock Down 1.3%

CoreWeave stock opened at $76.03 on Wednesday. The firm has a market capitalization of $29.38 billion and a P/E ratio of -52.43. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. CoreWeave has a twelve month low of $33.51 and a twelve month high of $187.00. The stock’s fifty day simple moving average is $112.41 and its 200-day simple moving average is $120.97.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. CoreWeave’s revenue for the quarter was up 133.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.82) 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.