CoreWeave Inc. (NASDAQ:CRWV) Receives $139.69 Average Target Price from Brokerages

CoreWeave Inc. (NASDAQ:CRWV) has been given a consensus recommendation of “Moderate Buy” by the thirty-four research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $138.8710.

CRWV has been the subject of several analyst reports. Mizuho dropped their price target on shares of CoreWeave from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of CoreWeave in a research report on Thursday, July 2nd. BNP Paribas Exane began coverage on shares of CoreWeave in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 price objective for the company. Wolfe Research reiterated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. Finally, Roth Capital reissued a “buy” rating and issued a $150.00 target price on shares of CoreWeave in a research note on Friday, May 8th.

Insiders Place Their Bets

In other news, CEO Michael N. Intrator sold 61,797 shares of CoreWeave stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total value of $5,372,631.18. Following the sale, the chief executive officer directly owned 2,876,815 shares in the company, valued at approximately $250,110,296.10. This trade represents a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 53,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $86.13, for a total value of $4,564,890.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,294,471 shares of company stock worth $2,607,466,396. 24.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC bought a new stake in shares of CoreWeave during the 2nd quarter valued at about $39,824,000. Quantbot Technologies LP bought a new position in CoreWeave in the second quarter worth about $311,000. Invesco Ltd. bought a new position in CoreWeave in the second quarter worth about $882,000. First Trust Advisors LP bought a new stake in CoreWeave during the 2nd quarter valued at approximately $20,260,000. Finally, Baird Financial Group Inc. bought a new stake in CoreWeave during the 2nd quarter valued at approximately $455,000.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $73.21 on Thursday. The firm has a market cap of $32.77 billion, a PE ratio of -23.54 and a beta of 7.17. CoreWeave has a fifty-two week low of $63.80 and a fifty-two week high of $153.20. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50 day moving average price of $100.38 and a 200-day moving average price of $95.19.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The firm had revenue of $2.08 billion during the quarter. During the same quarter last year, the company earned ($0.60) EPS. The business’s revenue was up 111.6% on a year-over-year basis. Equities research analysts predict that CoreWeave will post -4.57 earnings per share for the current year.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.