CoreWeave’s (CRWV) “Buy” Rating Reiterated at Citigroup

CoreWeave (NASDAQ:CRWV)‘s stock had its “buy” rating restated by equities research analysts at Citigroup in a research report issued on Friday,Benzinga reports. They currently have a $135.00 target price on the stock, down from their previous target price of $192.00. Citigroup’s price objective would indicate a potential upside of 99.47% from the company’s previous close.

A number of other research firms have also recently issued reports on CRWV. Compass Point began coverage on shares of CoreWeave in a research report on Thursday, November 13th. They set a “buy” rating and a $150.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on CoreWeave from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Bank of America lowered their target price on CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Mizuho set a $92.00 price target on shares of CoreWeave in a research report on Tuesday. Finally, Raymond James Financial assumed coverage on shares of CoreWeave in a report on Monday, September 15th. They set an “outperform” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $127.70.

CoreWeave Stock Performance

Shares of CRWV stock opened at $67.68 on Friday. The company has a market cap of $26.15 billion and a price-to-earnings ratio of -46.68. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The firm has a 50 day moving average of $99.68 and a 200-day moving average of $118.69.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. The firm’s revenue was up 133.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.82) earnings per share.

Insiders Place Their Bets

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,149,406 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $139.37, for a total value of $160,192,714.22. Following the completion of the sale, the insider directly owned 341,592 shares of the company’s stock, valued at approximately $47,607,677.04. This represents a 77.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 21,356,028 shares of company stock worth $2,861,675,037 in the last 90 days.

Hedge Funds Weigh In On CoreWeave

Several institutional investors have recently modified their holdings of CRWV. Family Legacy Financial Solutions LLC lifted its holdings in CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after acquiring an additional 125 shares during the period. HighMark Wealth Management LLC purchased a new stake in shares of CoreWeave during the 3rd quarter valued at $27,000. OLD Second National Bank of Aurora bought a new stake in shares of CoreWeave during the 3rd quarter worth $27,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of CoreWeave in the 3rd quarter worth about $27,000. Finally, Princeton Global Asset Management LLC bought a new position in CoreWeave during the third quarter valued at about $28,000.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.