CoreWeave (NASDAQ:CRWV) Shares Up 5.8% – Should You Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price shot up 5.8% on Monday . The stock traded as high as $87.54 and last traded at $86.46. Approximately 21,600,592 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 28,715,322 shares. The stock had previously closed at $81.75.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRWV. Oppenheimer raised their target price on shares of CoreWeave from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $167.00 price objective on shares of CoreWeave in a report on Thursday, June 11th. Evercore reissued an “outperform” rating and set a $150.00 target price on shares of CoreWeave in a report on Wednesday, April 15th. Sanford C. Bernstein restated an “underperform” rating on shares of CoreWeave in a research note on Thursday, June 11th. Finally, DA Davidson reiterated a “neutral” rating and issued a $100.00 price objective (down from $175.00) on shares of CoreWeave in a research note on Monday, May 18th. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.00.

CoreWeave Trading Up 5.8%

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 stock has a market capitalization of $38.70 billion, a P/E ratio of -27.80 and a beta of 7.17. The firm’s fifty day simple moving average is $107.48 and its 200 day simple moving average is $94.87.

CoreWeave (NASDAQ:CRWV) last posted its quarterly 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 for the quarter. During the same quarter last year, the company earned ($0.60) EPS. The company’s quarterly revenue was up 111.6% compared to the same quarter last year. As a group, equities research analysts forecast that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Insider Transactions at CoreWeave

In related news, insider Brian M. Venturo sold 1,125,000 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $110.82, for a total value of $124,672,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the transaction, the insider directly owned 282,570 shares of the company’s stock, valued at $33,428,031. This trade represents a 83.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 25,812,227 shares of company stock valued at $3,028,961,468.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 20,487,478 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CoreWeave by 6,022.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock worth $8,075,000 after purchasing an additional 110,926 shares during the last quarter. Legal & General Group Plc raised its holdings in CoreWeave by 8,455.6% during the 4th quarter. Legal & General Group Plc now owns 611,301 shares of the company’s stock worth $43,775,000 after purchasing an additional 604,156 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CoreWeave by 67.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock worth $4,794,000 after purchasing an additional 26,907 shares during the period. Finally, Hidden Lake Asset Management LP bought a new stake in shares of CoreWeave in the 3rd quarter valued at $14,814,000.

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.