CoreWeave’s (CRWV) “Neutral” Rating Reaffirmed at DA Davidson

CoreWeave (NASDAQ:CRWV)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $100.00 price objective on the stock, down from their prior price objective of $175.00. DA Davidson’s price objective points to a potential downside of 6.80% from the company’s previous close.

A number of other analysts have also recently commented on CRWV. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $135.00 price target on shares of CoreWeave in a research report on Friday, May 8th. Barclays boosted their price target on CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Wolfe Research started coverage on CoreWeave in a research report on Thursday, April 16th. They issued an “outperform” rating and a $150.00 price target on the stock. Cantor Fitzgerald boosted their price target on CoreWeave from $156.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of CoreWeave in a research report on Friday, February 27th. Nineteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.63.

CoreWeave Stock Performance

CoreWeave stock opened at $107.30 on Monday. The stock’s 50 day simple moving average is $97.44 and its two-hundred day simple moving average is $91.67. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $48.02 billion, a price-to-earnings ratio of -34.50 and a beta of 7.84. CoreWeave has a fifty-two week low of $63.80 and a fifty-two week high of $187.00.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm had revenue of $1.57 billion for the quarter. The company’s revenue was up 110.4% compared to the same quarter last year. As a group, analysts expect that CoreWeave will post -4.15 earnings per share for the current fiscal year.

Insider Activity at CoreWeave

In related news, insider Brian M. Venturo sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $80.86, for a total value of $90,967,500.00. Following the transaction, the insider directly owned 285,327 shares of the company’s stock, valued at approximately $23,071,541.22. This represents a 79.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total value of $166,172,106.10. Following the completion of the transaction, the insider directly owned 282,570 shares in the company, valued at $33,428,031. This trade represents a 83.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,875,276 shares of company stock worth $2,787,216,271 over the last ninety days.

Hedge Funds Weigh In On CoreWeave

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position in CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in CoreWeave during the 3rd quarter valued at $27,000. Aspect Partners LLC purchased a new stake in CoreWeave during the 3rd quarter valued at $28,000. Cullen Frost Bankers Inc. raised its stake in CoreWeave by 45.8% during 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. Finally, Greenline Wealth Management LLC purchased a new stake in CoreWeave during the 4th quarter valued at $28,000.

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.