CoreWeave (NASDAQ:CRWV) Trading 2.6% Higher Following Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV)’s stock price rose 2.6% during trading on Thursday after Citigroup raised their price target on the stock from $155.00 to $158.00. Citigroup currently has a buy rating on the stock. CoreWeave traded as high as $118.21 and last traded at $114.22. Approximately 26,906,350 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 28,157,010 shares. The stock had previously closed at $111.31.

A number of other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $135.00 price objective on shares of CoreWeave in a research report on Friday, May 8th. Barclays upped their target price on shares of CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday. Macquarie Infrastructure reaffirmed a “neutral” rating and issued a $115.00 target price on shares of CoreWeave in a research note on Tuesday, January 27th. Bank of America raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, March 24th. Finally, Jefferies Financial Group lifted their target price on shares of CoreWeave from $120.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Twenty investment 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’s stock. Based on data from MarketBeat.com, CoreWeave has an average rating of “Moderate Buy” and an average target price of $131.97.

Insider Buying and Selling

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the transaction, the insider owned 282,570 shares of the company’s stock, valued at $33,428,031. This trade represents a 83.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian M. Venturo sold 1,125,000 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the transaction, the insider directly owned 285,327 shares in the company, valued at approximately $23,071,541.22. This represents a 79.77% decrease in their position. 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 ninety days, insiders have sold 24,448,144 shares of company stock worth $2,741,354,245.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Citigroup’s higher target adds to a run of analyst confidence in CoreWeave, suggesting the stock may still have room to rise if AI demand stays elevated. Benzinga
• Positive Sentiment: Recent coverage highlighted strong AI infrastructure demand, including reported first-quarter revenue growth and a very large backlog, which supports the company’s growth narrative. Article Title
• Positive Sentiment: CoreWeave also benefited from news that Nvidia CEO Jensen Huang’s foundation bought more than $108 million of CoreWeave computing capacity for research institutions, underscoring demand for its AI compute services. Article Title
• Neutral Sentiment: CoreWeave’s upcoming presentation at the J.P. Morgan Global Technology, Media and Communications Conference could draw attention, but by itself it is more of a visibility event than a major catalyst. Article Title
• Negative Sentiment: Insider selling, including COO Sachin Jain’s recent share sale, may slightly pressure sentiment even though the company said the sale was tied to tax withholding on vested equity. Article Title
• Negative Sentiment: Some investors remain focused on CoreWeave’s heavy debt, ongoing losses, and questions about whether the AI growth story can keep accelerating at the same pace. Article Title

Hedge Funds Weigh In On CoreWeave

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in shares of CoreWeave by 4.0% during the 1st quarter. Parallel Advisors LLC now owns 2,340 shares of the company’s stock valued at $181,000 after acquiring an additional 91 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of CoreWeave by 2.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock valued at $389,000 after acquiring an additional 104 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of CoreWeave by 34.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock valued at $33,000 after acquiring an additional 119 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in shares of CoreWeave by 50.2% during the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock valued at $50,000 after acquiring an additional 121 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after acquiring an additional 121 shares in the last quarter.

CoreWeave Price Performance

The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.46 and a current ratio of 0.31. The firm has a market cap of $51.12 billion, a price-to-earnings ratio of -36.72 and a beta of 7.84. The company’s fifty day moving average is $96.08 and its two-hundred day moving average is $92.00.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The business had revenue of $1.57 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company’s revenue for the quarter was up 110.4% on a year-over-year basis. Equities research analysts forecast that CoreWeave Inc. will post -4.15 EPS for the current year.

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.