CoreWeave, Inc. Class A Common Stock’s (CRWV) “Underperform” Rating Reiterated at DA Davidson

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)‘s stock had its “underperform” rating reissued by research analysts at DA Davidson in a research note issued on Tuesday,Benzinga reports. They currently have a $36.00 price objective on the stock. DA Davidson’s price target would indicate a potential downside of 76.41% from the company’s current price.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group initiated coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They issued a “buy” rating and a $51.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They set a “hold” rating and a $45.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a “buy” rating and a $55.00 price objective on the stock. Arete Research upgraded shares of CoreWeave, Inc. Class A Common Stock to a “hold” rating in a report on Thursday, June 5th. Finally, Barclays reissued an “equal weight” rating and set a $100.00 target price (up previously from $70.00) on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.00.

CoreWeave, Inc. Class A Common Stock Stock Down 5.9%

CRWV stock traded down $9.50 during midday trading on Tuesday, reaching $152.60. The stock had a trading volume of 15,865,691 shares, compared to its average volume of 21,642,016. CoreWeave, Inc. Class A Common Stock has a twelve month low of $33.51 and a twelve month high of $166.63. The business’s fifty day moving average price is $71.26.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insider Buying and Selling

In other news, insider Kristen J. Mcveety sold 69,460 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $2,778,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the transaction, the chief financial officer now owns 231,811 shares of the company’s stock, valued at $9,272,440. The trade was a 5.20% decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On CoreWeave, Inc. Class A Common Stock

An institutional investor recently bought a new position in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,575 shares of the company’s stock, valued at approximately $318,000.

About CoreWeave, Inc. Class A Common Stock

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.