CoreWeave (NASDAQ:CRWV) Shares Down 7.6% – What’s Next?

CoreWeave Inc. (NASDAQ:CRWV)’s share price fell 7.6% during mid-day trading on Monday . The stock traded as low as $67.15 and last traded at $69.15. 25,321,319 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 25,889,717 shares. The stock had previously closed at $74.81.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRWV. Citigroup dropped their price objective on shares of CoreWeave from $135.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Barclays lowered their target price on shares of CoreWeave from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Monday, January 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $131.00 price target on shares of CoreWeave in a research report on Friday, February 27th. Roth Mkm restated a “buy” rating on shares of CoreWeave in a research note on Monday, February 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of CoreWeave in a research note on Friday, February 27th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, CoreWeave currently has an average rating of “Moderate Buy” and a consensus target price of $121.06.

CoreWeave Stock Down 7.6%

The firm has a market cap of $28.98 billion and a price-to-earnings ratio of -21.61. The business’s 50-day moving average is $88.25 and its 200-day moving average is $97.14. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.28). The firm had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The company’s revenue for the quarter was up 110.4% compared to the same quarter last year.

Insider Transactions at CoreWeave

In related news, insider Brian M. Venturo sold 281,250 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $91.77, for a total transaction of $25,810,312.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brannin Mcbee sold 300,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $72.61, for a total value of $21,783,000.00. Following the sale, the insider directly owned 248,664 shares of the company’s stock, valued at $18,055,493.04. This represents a 54.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,588,015 shares of company stock valued at $391,814,510 in the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRWV. Hazlett Burt & Watson Inc. grew its holdings in CoreWeave by 34.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock worth $33,000 after acquiring an additional 119 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in CoreWeave by 50.2% during the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after buying an additional 121 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in CoreWeave by 45.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after buying an additional 121 shares during the last quarter. Family Legacy Financial Solutions LLC increased its stake in shares of CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after buying an additional 125 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of CoreWeave by 26.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 600 shares of the company’s stock worth $43,000 after acquiring an additional 125 shares during the last quarter.

CoreWeave Company Profile

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.