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

CoreWeave (NASDAQ:CRWV)‘s stock had its “neutral” rating reaffirmed by analysts 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 target would indicate a potential downside of 6.80% from the company’s previous close.

A number of other brokerages have also recently issued reports on CRWV. Cantor Fitzgerald raised their price objective on CoreWeave from $156.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of CoreWeave in a research note on Friday, February 27th. Jefferies Financial Group raised their price objective on CoreWeave from $120.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Truist Financial raised their price objective on CoreWeave from $85.00 to $131.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $180.00 price objective on shares of CoreWeave in a research note on Friday, February 27th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, CoreWeave has a consensus rating of “Moderate Buy” and an average price target of $129.63.

CoreWeave Stock Performance

NASDAQ CRWV 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. CoreWeave has a twelve month low of $63.80 and a twelve month high of $187.00. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The company has a market capitalization of $48.02 billion, a price-to-earnings ratio of -34.50 and a beta of 7.84.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarterly revenue was up 110.4% on a year-over-year basis. Research analysts forecast that CoreWeave will post -4.15 EPS for the current fiscal year.

Insider Transactions at CoreWeave

In related news, insider Brian M. Venturo sold 1,125,000 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the transaction, the insider owned 285,327 shares in the company, valued at $23,071,541.22. The trade was a 79.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 business’s stock in a transaction dated 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 transaction, the insider owned 282,570 shares in the company, valued at approximately $33,428,031. This represents a 83.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,875,276 shares of company stock worth $2,787,216,271.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRWV. AE Wealth Management LLC bought a new stake in CoreWeave during the 3rd quarter valued at approximately $4,241,000. Vanguard Group Inc. boosted its position in CoreWeave by 275.6% during the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CoreWeave by 6,022.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 112,768 shares of the company’s stock valued at $8,075,000 after acquiring an additional 110,926 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in CoreWeave by 67.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,947 shares of the company’s stock valued at $4,794,000 after acquiring an additional 26,907 shares in the last quarter. Finally, Hidden Lake Asset Management LP bought a new stake in CoreWeave during the 3rd quarter valued at approximately $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.