CoreWeave (NASDAQ:CRWV) Stock Price Up 6.3% After Analyst Upgrade

Shares of CoreWeave Inc. (NASDAQ:CRWVGet Free Report) were up 6.3% on Tuesday after Sanford C. Bernstein raised their price target on the stock from $56.00 to $67.00. Sanford C. Bernstein currently has an underperform rating on the stock. CoreWeave traded as high as $119.06 and last traded at $117.20. Approximately 45,193,391 shares changed hands during mid-day trading, an increase of 63% from the average daily volume of 27,678,404 shares. The stock had previously closed at $110.27.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of CoreWeave in a research report on Monday, January 12th. They issued a “neutral” rating and a $86.00 price objective on the stock. Barclays decreased their price objective on shares of CoreWeave from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, January 12th. UBS Group restated a “neutral” rating on shares of CoreWeave in a research report on Friday, January 16th. DA Davidson upped their price objective on shares of CoreWeave from $125.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup decreased their price objective on shares of CoreWeave from $135.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Nineteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, CoreWeave presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.94.

Read Our Latest Stock Report on CRWV

Insider Activity

In other news, insider Brian M. Venturo sold 61,747 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $89.22, for a total transaction of $5,509,067.34. Following the completion of the sale, the insider owned 223,580 shares of the company’s stock, valued at approximately $19,947,807.60. This represents a 21.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 100,000 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $81.25, for a total value of $8,125,000.00. Following the sale, the insider directly owned 313,732 shares of the company’s stock, valued at approximately $25,490,725. This trade represents a 24.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,352,929 shares of company stock valued at $613,678,293.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

Institutional Trading of CoreWeave

Institutional investors have recently made changes to their positions in the stock. Renaissance Capital LLC lifted its stake in CoreWeave by 49.9% in the third quarter. Renaissance Capital LLC now owns 47,162 shares of the company’s stock worth $6,454,000 after acquiring an additional 15,697 shares during the period. Munro Partners lifted its stake in CoreWeave by 5,272.4% in the third quarter. Munro Partners now owns 616,485 shares of the company’s stock worth $84,366,000 after acquiring an additional 605,010 shares during the period. AE Wealth Management LLC purchased a new stake in CoreWeave in the third quarter worth $4,241,000. HWG Holdings LP purchased a new stake in CoreWeave in the third quarter worth $1,863,000. Finally, Liontrust Investment Partners LLP purchased a new stake in CoreWeave in the second quarter worth $5,692,000.

CoreWeave Price Performance

The business has a 50 day moving average of $85.82 and a 200 day moving average of $94.27. The company has a market cap of $49.11 billion and a PE ratio of -36.62. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46.

CoreWeave (NASDAQ:CRWVGet Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The business had revenue of $1.57 billion during the quarter. The firm’s revenue for the quarter was up 110.4% on a year-over-year basis.

CoreWeave Company Profile

(Get Free Report)

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.

Further Reading

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