Mizuho Cuts CoreWeave (NASDAQ:CRWV) Price Target to $100.00

CoreWeave (NASDAQ:CRWV) had its price target cut by Mizuho from $110.00 to $100.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on CRWV. Bank of America raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, March 24th. BNP Paribas Exane started coverage on shares of CoreWeave in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $192.00 price target for the company. Wolfe Research restated an “outperform” rating on shares of CoreWeave in a research report on Monday, July 6th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of CoreWeave in a research note on Thursday, June 11th. Finally, Roth Capital reiterated a “buy” rating and issued a $150.00 price objective on shares of CoreWeave in a report on Friday, May 8th. Twenty analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, CoreWeave presently has an average rating of “Moderate Buy” and an average target price of $138.87.

CoreWeave Stock Up 0.4%

Shares of CRWV opened at $73.21 on Wednesday. The firm has a market cap of $32.77 billion, a P/E ratio of -23.54 and a beta of 7.17. The stock has a 50 day simple moving average of $100.38 and a two-hundred day simple moving average of $95.19. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. CoreWeave has a 1 year low of $63.80 and a 1 year high of $153.20.

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

Insider Transactions at CoreWeave

In related news, insider Brian M. Venturo sold 76,912 shares of CoreWeave stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total value of $6,690,574.88. Following the sale, the insider owned 283,985 shares in the company, valued at $24,703,855.15. The trade was a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael N. Intrator sold 61,797 shares of CoreWeave stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the completion of the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 22,294,471 shares of company stock worth $2,607,466,396. 24.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CoreWeave

A number of large investors have recently modified their holdings of CRWV. Vanguard Group Inc. raised its stake in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC boosted its position in CoreWeave by 446,194.0% during the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after acquiring an additional 17,847,760 shares in the last quarter. Bank of America Corp DE boosted its position in CoreWeave by 13.1% during the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after acquiring an additional 653,398 shares in the last quarter. Clear Street Group Inc. grew its holdings in shares of CoreWeave by 57.2% during the 4th quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock worth $333,260,000 after acquiring an additional 1,692,916 shares during the period. Finally, Alyeska Investment Group L.P. grew its holdings in shares of CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock worth $286,440,000 after acquiring an additional 3,000,000 shares during the period.

CoreWeave Company Profile

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.