CoreWeave (NASDAQ:CRWV) Trading Up 4.8% – Should You Buy?

CoreWeave Inc. (NASDAQ:CRWV) was up 4.8% on Thursday . The stock traded as high as $68.94 and last traded at $67.68. Approximately 30,181,746 shares were traded during trading, an increase of 22% from the average daily volume of 24,678,896 shares. The stock had previously closed at $64.55.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRWV. DA Davidson reissued an “underperform” rating and issued a $36.00 price objective on shares of CoreWeave in a research note on Tuesday, November 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $110.00 target price on shares of CoreWeave in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CoreWeave in a research note on Monday. Citizens Jmp upgraded shares of CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research report on Tuesday, September 16th. Finally, Arete Research raised CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $128.53.

CoreWeave Stock Up 4.8%

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $26.15 billion and a price-to-earnings ratio of -46.68. The firm’s 50-day simple moving average is $101.18 and its two-hundred day simple moving average is $119.05.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. CoreWeave’s revenue was up 133.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.82) earnings per share.

Insider Transactions at CoreWeave

In other CoreWeave news, insider Brian M. Venturo sold 281,250 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $87.75, for a total value of $24,679,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nitin Agrawal sold 66,467 shares of CoreWeave stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $82.58, for a total value of $5,488,844.86. Following the transaction, the chief financial officer directly owned 203,392 shares of the company’s stock, valued at $16,796,111.36. This trade represents a 24.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,119,164 shares of company stock valued at $3,210,773,924 in the last three months.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL purchased a new stake in shares of CoreWeave in the first quarter valued at about $318,000. Goldman Sachs Group Inc. acquired a new position in shares of CoreWeave during the 1st quarter worth approximately $963,000. Howard Financial Services LTD. purchased a new stake in CoreWeave in the 2nd quarter valued at approximately $489,000. McAlister Sweet & Associates Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at approximately $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in CoreWeave during the 2nd quarter valued at $117,000.

CoreWeave Company Profile

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.