CoreWeave (NASDAQ:CRWV) Shares Up 6.1% – Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV) shares traded up 6.1% during trading on Monday . The stock traded as high as $108.80 and last traded at $106.71. 21,782,669 shares were traded during mid-day trading, a decline of 23% from the average session volume of 28,142,729 shares. The stock had previously closed at $100.55.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of CoreWeave from $120.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Barclays increased their price target on shares of CoreWeave from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $167.00 price target on shares of CoreWeave in a research report on Thursday. Citigroup increased their price target on shares of CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $180.00 price target on shares of CoreWeave in a research report on Friday, February 27th. Twenty research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, CoreWeave presently has an average rating of “Moderate Buy” and a consensus target price of $131.52.

CoreWeave Stock Performance

The stock has a market cap of $47.76 billion, a P/E ratio of -34.31 and a beta of 7.18. The firm’s 50-day moving average is $107.85 and its two-hundred day moving average is $92.54. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The business had revenue of $2.08 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The business’s quarterly revenue was up 111.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. As a group, research analysts expect that CoreWeave Inc. will post -4.57 EPS for the current year.

Insider Activity at CoreWeave

In related news, Director Jack D. Cogen sold 986,540 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total transaction of $106,349,012.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian M. Venturo sold 1,125,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the transaction, the insider directly owned 285,327 shares in the company, valued at approximately $23,071,541.22. The trade was a 79.77% 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. Over the last quarter, insiders have sold 27,692,859 shares of company stock valued at $3,125,073,814.

Hedge Funds Weigh In On CoreWeave

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock worth $1,999,421,000 after acquiring an additional 20,487,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CoreWeave by 6,022.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock worth $8,075,000 after acquiring an additional 110,926 shares during the last quarter. Legal & General Group Plc grew its stake in shares of CoreWeave by 8,455.6% in the fourth quarter. Legal & General Group Plc now owns 611,301 shares of the company’s stock worth $43,775,000 after acquiring an additional 604,156 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CoreWeave by 67.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock worth $4,794,000 after acquiring an additional 26,907 shares during the last quarter. Finally, Hidden Lake Asset Management LP acquired a new stake in CoreWeave during the third quarter worth $14,814,000.

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.