CoreWeave (NASDAQ:CRWV) Now Covered by Piper Sandler

Research analysts at Piper Sandler started coverage on shares of CoreWeave (NASDAQ:CRWV) in a research note issued to investors on Monday,Benzinga reports. The firm set an “overweight” rating and a $151.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 76.18% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their target price on CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. BTIG Research assumed coverage on shares of CoreWeave in a research report on Wednesday, July 22nd. They set a “buy” rating for the company. Truist Financial upgraded shares of CoreWeave from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $131.00 to $126.00 in a research note on Tuesday, July 21st. Evercore reissued an “outperform” rating and issued a $150.00 price objective on shares of CoreWeave in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $135.00 target price on shares of CoreWeave in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CoreWeave has an average rating of “Moderate Buy” and a consensus price target of $136.70.

CoreWeave Stock Performance

Shares of CRWV traded up $13.94 during mid-day trading on Monday, hitting $85.71. 38,255,044 shares of the company traded hands, compared to its average volume of 28,346,219. 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 50-day moving average price of $93.58 and a two-hundred day moving average price of $95.03. CoreWeave has a 1 year low of $60.55 and a 1 year high of $153.20. The stock has a market cap of $38.36 billion, a price-to-earnings ratio of -27.56 and a beta of 7.45.

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). The company had revenue of $2.08 billion during the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company’s revenue was up 111.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.60) EPS. Equities analysts anticipate that CoreWeave will post -5.15 earnings per share for the current year.

Insider Buying and Selling

In other CoreWeave news, insider Brannin Mcbee sold 13,000 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $71.04, for a total transaction of $923,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeff Baker sold 6,455 shares of CoreWeave stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $66.51, for a total value of $429,322.05. Following the completion of the transaction, the insider owned 7,167 shares of the company’s stock, valued at approximately $476,677.17. This represents a 47.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 13,636,344 shares of company stock worth $1,516,486,944. Insiders own 24.20% of the company’s stock.

Institutional Investors Weigh In On CoreWeave

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC lifted its position in CoreWeave by 446,194.0% during the third 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 during the last quarter. Deutsche Bank AG lifted its position in CoreWeave by 22,624.0% during the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after acquiring an additional 3,796,077 shares during the last quarter. Altimeter Capital Management LP purchased a new position in CoreWeave during the 4th quarter worth $230,099,000. Finally, Alyeska Investment Group L.P. raised its position in shares of CoreWeave by 300.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter.

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.