CoreWeave (NASDAQ:CRWV) Shares Climb 3.7% Following Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV) shares shot up 3.7% during trading on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $125.00 price target on the stock, up from their previous price target of $120.00. CoreWeave traded as high as $91.12 and last traded at $90.13. Approximately 33,561,575 shares were traded during trading, an increase of 17% from the average session volume of 28,633,373 shares. The stock had previously closed at $86.90.

Several other equities analysts have also issued reports on CRWV. UBS Group initiated coverage on CoreWeave in a research note on Tuesday. They issued a “buy” rating and a $120.00 price target on the stock. The Goldman Sachs Group raised their price objective on CoreWeave from $121.00 to $139.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Cantor Fitzgerald set a $176.00 target price on CoreWeave and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Truist Financial boosted their target price on CoreWeave from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Finally, Raymond James Financial cut shares of CoreWeave from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, CoreWeave currently has an average rating of “Moderate Buy” and an average target price of $138.78.

Insider Buying and Selling at CoreWeave

In other news, CEO Michael N. Intrator sold 278,560 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $97.43, for a total value of $27,140,100.80. Following the completion of the transaction, the chief executive officer directly owned 3,138,612 shares in the company, valued at approximately $305,794,967.16. This represents a 8.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Magnetar Financial Llc sold 307,131 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $108.75, for a total value of $33,400,496.25. Following the sale, the insider directly owned 220,810 shares in the company, valued at approximately $24,013,087.50. This trade represents a 58.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,380,334 shares of company stock valued at $561,507,579 over the last quarter. Company insiders own 24.20% of the company’s stock.

Key Stories Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: JPMorgan upgraded CoreWeave to Overweight from Neutral and raised its price target to $125 from $120, citing favorable customer contracts and improving pricing power for AI cloud services. CoreWeave in spotlight as JP Morgan upgrades, citing favorable contracts
• Positive Sentiment: UBS initiated coverage with a Buy rating and a $120 target, arguing that robust AI compute demand could drive further growth and that CoreWeave’s valuation does not fully reflect industry demand signals. CoreWeave gets buy rating from UBS as AI compute demand strengthens
• Positive Sentiment: Harell Data selected CoreWeave to host training, fine-tuning and inference workloads for its secure AI model-training platform, adding another potential customer and growth channel. Harell Data Selects CoreWeave to Power Its Secure Platform for AI Model Training
• Positive Sentiment: CoreWeave earned SemiAnalysis’ Platinum ClusterMAX rating for the third consecutive evaluation, reinforcing its positioning on AI-cloud performance, reliability and scalability. CoreWeave earns SemiAnalysis Platinum ClusterMAX rating
• Neutral Sentiment: CoreWeave completed an upsized convertible-notes offering, providing $4.2 billion of funding for data-center expansion but increasing financing obligations and potential future dilution. CoreWeave closes $4.2 billion convertible notes deal
• Negative Sentiment: The capital raise highlights CoreWeave’s heavy investment needs and leverage; its reported debt-to-equity ratio is 5.53, while convertible securities could pressure shareholder ownership if converted.

Institutional Trading of CoreWeave

Several hedge funds and other institutional investors have recently made changes to their positions in CRWV. Parallel Advisors LLC lifted its position in shares of CoreWeave by 4.0% in the 1st quarter. Parallel Advisors LLC now owns 2,340 shares of the company’s stock worth $181,000 after purchasing an additional 91 shares during the period. Pathway Wealth Management LLC increased its position in shares of CoreWeave by 2.9% during the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock worth $278,000 after buying an additional 100 shares during the period. Azzad Asset Management Inc. ADV increased its position in shares of CoreWeave by 2.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock worth $389,000 after buying an additional 104 shares during the period. Hazlett Burt & Watson Inc. raised its stake in CoreWeave by 34.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock worth $33,000 after buying an additional 119 shares during the last quarter. Finally, WPG Advisers LLC raised its stake in CoreWeave by 14.1% during the first quarter. WPG Advisers LLC now owns 1,159 shares of the company’s stock worth $90,000 after buying an additional 143 shares during the last quarter.

CoreWeave Trading Up 3.7%

The firm has a market cap of $41.36 billion, a price-to-earnings ratio of -24.69 and a beta of 7.45. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. The firm’s fifty day moving average is $85.46 and its 200-day moving average is $94.28.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business had revenue of $2.58 billion for the quarter. During the same period last year, the company posted ($0.27) EPS. The business’s revenue was up 112.5% compared to the same quarter last year. Equities analysts anticipate that CoreWeave Inc. will post -5.19 earnings per share for the current year.

CoreWeave Company Profile

CoreWeave, Inc is a specialized cloud computing provider focused on infrastructure for artificial intelligence, machine learning, high-performance computing and other data-intensive workloads. The company provides access to accelerated computing resources, particularly graphics processing units (GPUs), through a cloud platform designed for large-scale training, inference, rendering and scientific computing.

Its offerings include on-demand and reserved GPU instances, cloud storage, high-speed networking, Kubernetes-based container orchestration and managed services for deploying and scaling workloads.