CoreWeave (NASDAQ:CRWV) Stock Price Up 2% – Still a Buy?

Shares of CoreWeave Inc. (NASDAQ:CRWV) were up 2% during mid-day trading on Monday . The stock traded as high as $104.30 and last traded at $102.37. Approximately 23,166,110 shares changed hands during trading, a decline of 18% from the average daily volume of 28,279,270 shares. The stock had previously closed at $100.39.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CRWV shares. HC Wainwright restated a “buy” rating and set a $180.00 price objective on shares of CoreWeave in a research report on Monday, March 2nd. BNP Paribas Exane started coverage on shares of CoreWeave in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 price objective for the company. Oppenheimer raised their price objective on shares of CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. DA Davidson restated a “neutral” rating and set a $100.00 price objective (down from $175.00) on shares of CoreWeave in a research report on Monday, May 18th. Finally, Wolfe Research assumed coverage on shares of CoreWeave in a research report on Thursday, April 16th. They issued an “outperform” rating and a $150.00 price target for the company. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

CoreWeave Trading Up 2.0%

The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50-day moving average price is $105.60 and its two-hundred day moving average price is $91.64. The company has a market capitalization of $45.82 billion, a price-to-earnings ratio of -32.92 and a beta of 7.14.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business had revenue of $2.08 billion during the quarter. During the same period last year, the firm posted ($0.60) EPS. The company’s quarterly revenue was up 111.6% compared to the same quarter last year. Research analysts predict that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jack D. Cogen sold 271,153 shares of CoreWeave stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $106.97, for a total value of $29,005,236.41. Following the completion of the sale, the director directly owned 8,769,676 shares in the company, valued at approximately $938,092,241.72. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Magnetar Financial Llc sold 112,111 shares of CoreWeave stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $130.56, for a total transaction of $14,637,212.16. Following the completion of the sale, the insider owned 241,920 shares of the company’s stock, valued at approximately $31,585,075.20. The trade was a 31.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,306,629 shares of company stock valued at $3,081,590,041 in the last quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after acquiring an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC increased its stake in CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock valued at $2,443,013,000 after acquiring an additional 17,847,760 shares during the last quarter. Bank of America Corp DE increased its stake in CoreWeave by 13.1% in the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after acquiring an additional 653,398 shares during the last quarter. Clear Street Group Inc. increased its stake in CoreWeave by 57.2% in the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock valued at $333,260,000 after acquiring an additional 1,692,916 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in CoreWeave by 300.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after acquiring an additional 3,000,000 shares during the last quarter.

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.