CoreWeave (NASDAQ:CRWV) Stock Price Expected to Rise, DA Davidson Analyst Says

CoreWeave (NASDAQ:CRWV) had its price target increased by equities researchers at DA Davidson from $125.00 to $175.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target points to a potential upside of 55.99% from the company’s previous close.

Several other research analysts have also commented on CRWV. Citigroup cut their price objective on CoreWeave from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of CoreWeave in a research report on Monday, March 2nd. Barclays cut their price objective on CoreWeave from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, January 12th. Needham & Company LLC reissued a “hold” rating on shares of CoreWeave in a research report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CoreWeave in a research report on Monday, December 29th. Nineteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.26.

CoreWeave Stock Up 10.0%

NASDAQ:CRWV traded up $10.18 during mid-day trading on Monday, hitting $112.18. The company had a trading volume of 43,666,954 shares, compared to its average volume of 27,232,885. The business has a fifty day simple moving average of $85.40 and a 200-day simple moving average of $94.39. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 4.46. CoreWeave has a 1 year low of $33.51 and a 1 year high of $187.00. The firm has a market capitalization of $47.01 billion and a price-to-earnings ratio of -35.02.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The company had revenue of $1.57 billion during the quarter. The business’s revenue for the quarter was up 110.4% compared to the same quarter last year.

Insider Buying and Selling at CoreWeave

In other news, CEO Michael N. Intrator sold 62,399 shares of CoreWeave stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $89.22, for a total transaction of $5,567,238.78. Following the sale, the chief executive officer directly owned 5,466,501 shares of the company’s stock, valued at approximately $487,721,219.22. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sachin Jain sold 3,953 shares of CoreWeave stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $92.00, for a total value of $363,676.00. Following the sale, the chief operating officer directly owned 122,691 shares in the company, valued at approximately $11,287,572. The trade was a 3.12% decrease in their ownership of the stock. 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 7,345,594 shares of company stock valued at $612,908,118.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently bought and sold shares of CRWV. Sivia Capital Partners LLC acquired a new position in CoreWeave in the second quarter worth about $39,824,000. Quantbot Technologies LP acquired a new position in CoreWeave in the second quarter worth about $311,000. Invesco Ltd. acquired a new position in CoreWeave in the second quarter worth about $882,000. First Trust Advisors LP acquired a new position in CoreWeave in the second quarter worth about $20,260,000. Finally, Baird Financial Group Inc. acquired a new position in CoreWeave in the second quarter worth about $455,000.

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.