CoreWeave (NASDAQ:CRWV) Stock Price Target Lowered at Truist Financial

CoreWeave (NASDAQ:CRWV) had its price objective lowered by Truist Financial from $165.00 to $115.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research analysts have also recently commented on CRWV. Cantor Fitzgerald lowered their price target on shares of CoreWeave from $176.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday. Northland Securities set a $200.00 price objective on CoreWeave in a research report on Wednesday, October 7th. Rothschild & Co Redburn started coverage on shares of CoreWeave in a research note on Monday, September 21st. They issued a “sell” rating and a $54.00 price target on the stock. William Blair assumed coverage on shares of CoreWeave in a research report on Wednesday, September 30th. They set an “outperform” rating for the company. Finally, Deutsche Bank restated a “buy” rating and issued a $150.00 target price (up from $135.00) on shares of CoreWeave in a report on Friday, August 7th. Twenty-six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, CoreWeave presently has an average rating of “Moderate Buy” and an average target price of $118.66.

CoreWeave Trading Up 24.7%

CRWV opened at $60.77 on Wednesday. CoreWeave has a 12 month low of $40.58 and a 12 month high of $138.25. The stock has a market capitalization of $27.89 billion, a price-to-earnings ratio of -12.93 and a beta of 7.71. 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 business has a fifty day moving average price of $73.71 and a 200 day moving average price of $89.28.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. The company had revenue of $2.58 billion for the quarter. CoreWeave had a negative return on equity of 59.42% and a negative net margin of 25.56%. CoreWeave’s revenue for the quarter was up 112.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.27) EPS. Sell-side analysts expect that CoreWeave will post -4.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Chen Goldberg sold 19,904 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $46.50, for a total value of $925,536.00. Following the completion of the sale, the executive vice president directly owned 68,149 shares of the company’s stock, valued at approximately $3,168,928.50. This represents a 22.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nitin Agrawal sold 22,579 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $80.13, for a total transaction of $1,809,255.27. Following the transaction, the chief financial officer owned 110,017 shares in the company, valued at approximately $8,815,662.21. This trade represents a 17.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,727,018 shares of company stock valued at $337,495,407 in the last 90 days. Company insiders own 24.20% of the company’s stock.

Institutional Trading of CoreWeave

Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of CoreWeave in the 2nd quarter valued at approximately $15,543,000. California State Teachers Retirement System increased its holdings in shares of CoreWeave by 25.5% in the first quarter. California State Teachers Retirement System now owns 320,011 shares of the company’s stock valued at $24,791,000 after purchasing an additional 64,960 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CoreWeave by 12.6% during the first quarter. Bank of New York Mellon Corp now owns 353,702 shares of the company’s stock worth $27,401,000 after purchasing an additional 39,599 shares during the last quarter. Ardmore Road Asset Management LP raised its stake in shares of CoreWeave by 3,410.0% during the first quarter. Ardmore Road Asset Management LP now owns 351,000 shares of the company’s stock worth $27,192,000 after purchasing an additional 341,000 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of CoreWeave by 30.6% during the second quarter. TD Waterhouse Canada Inc. now owns 73,470 shares of the company’s stock worth $7,313,000 after purchasing an additional 17,196 shares during the last quarter.

Top CoreWeave Stories

Here are a few of the latest stories about CRWV:

• Positive Sentiment: Large backlog supports demand visibility: Contracted backlog reached about $132.5 billion, while management cited demand outpacing available capacity and stronger GPU pricing. The results also helped revive confidence in the broader AI trade. Backlog and demand report
• Positive Sentiment: Funding measures could ease near-term pressure: CoreWeave expects roughly $9 billion in customer prepayments and deposits over the next three months and is preparing a potential $4 billion investment-grade loan facility, which could lower funding costs. Loan report
• Neutral Sentiment: Analysts remain divided: Some raised targets after the report, while others cut targets or stayed cautious, reflecting uncertainty about how quickly growth will translate into sustainable profitability. Analyst outlook

CoreWeave Company Profile

CoreWeave is a cloud computing company that provides infrastructure for artificial intelligence, machine learning, and other compute-intensive workloads. Its services include access to graphics processing units (GPUs), cloud storage and networking, and software tools for deploying and managing workloads. The company was founded in 2017 as a cryptocurrency mining business and later shifted its focus to cloud computing. CoreWeave is headquartered in Livingston, New Jersey, and operates data center infrastructure in the United States and Europe, serving customers that need large-scale computing resources.