CoreWeave (NASDAQ:CRWV) Stock Price Up 5.3% – Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price traded up 5.3% on Tuesday . The company traded as high as $85.30 and last traded at $85.24. 15,202,189 shares were traded during trading, a decline of 41% from the average session volume of 25,642,529 shares. The stock had previously closed at $80.94.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut their price target on shares of CoreWeave from $150.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $131.00 price target on shares of CoreWeave in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft raised shares of CoreWeave from a “hold” rating to a “buy” rating and increased their price target for the stock from $100.00 to $140.00 in a research note on Tuesday, January 27th. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of CoreWeave in a research note on Monday, March 2nd. Finally, Citigroup cut their price target on shares of CoreWeave from $135.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.06.

CoreWeave Stock Up 5.3%

The firm’s 50-day moving average price is $86.19 and its 200-day moving average price is $95.48. The company has a market cap of $35.72 billion and a price-to-earnings ratio of -26.64. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.46 and a quick ratio of 0.46.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The business had revenue of $1.57 billion during the quarter. CoreWeave had a negative return on equity of 33.82% and a negative net margin of 22.75%.The firm’s revenue for the quarter was up 110.4% on a year-over-year basis.

Insider Transactions at CoreWeave

In other news, insider Brannin Mcbee sold 56,031 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $74.05, for a total value of $4,149,095.55. Following the completion of the sale, the insider owned 313,732 shares of the company’s stock, valued at $23,231,854.60. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian M. Venturo sold 489,802 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $80.50, for a total value of $39,429,061.00. Following the completion of the sale, the insider directly owned 285,327 shares of the company’s stock, valued at $22,968,823.50. The trade was a 63.19% decrease in their position. 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 sold 6,211,208 shares of company stock valued at $520,614,381 over the last quarter.

Institutional Investors Weigh In On CoreWeave

A number of large investors have recently added to or reduced their stakes in CRWV. Sivia Capital Partners LLC acquired a new stake in CoreWeave during the 2nd quarter valued at $39,824,000. Northwestern Mutual Wealth Management Co. acquired a new stake in CoreWeave during the 2nd quarter valued at $306,000. Quantbot Technologies LP acquired a new stake in CoreWeave during the 2nd quarter valued at $311,000. CW Advisors LLC acquired a new stake in CoreWeave during the 2nd quarter valued at $864,000. Finally, Invesco Ltd. acquired a new stake in CoreWeave during the 2nd quarter valued at $882,000.

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.