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

CoreWeave Inc. (NASDAQ:CRWV) shares shot up 6.1% during mid-day trading on Monday . The company traded as high as $108.80 and last traded at $106.71. 21,782,669 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRWV. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $135.00 target price on shares of CoreWeave in a research report on Friday, May 8th. Oppenheimer increased their target price on shares of CoreWeave from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Citizens Jmp reiterated a “market outperform” rating and issued a $180.00 target price on shares of CoreWeave in a research report on Friday, February 27th. Wells Fargo & Company increased their target price on shares of CoreWeave from $135.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $167.00 target price on shares of CoreWeave in a research report on Thursday. Twenty investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, CoreWeave has a consensus rating of “Moderate Buy” and an average price target of $131.52.

CoreWeave Stock Performance

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

CoreWeave (NASDAQ:CRWV) last posted 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). 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 for the quarter. During the same period last year, the business posted ($0.60) EPS. The company’s quarterly revenue was up 111.6% on a year-over-year basis. As a group, equities analysts forecast that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Insider Activity

In other news, insider Brian M. Venturo sold 1,125,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 285,327 shares in the company, valued at approximately $23,071,541.22. This trade represents a 79.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the transaction, the insider owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. The trade was a 83.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,692,859 shares of company stock worth $3,125,073,814.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRWV. Cornerstone Planning Group LLC boosted its holdings in shares of CoreWeave by 272.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after buying an additional 251 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in shares of CoreWeave in the third quarter worth about $27,000. Cullen Frost Bankers Inc. boosted its holdings in shares of CoreWeave by 45.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after buying an additional 121 shares during the period. Greenline Wealth Management LLC acquired a new position in shares of CoreWeave in the fourth quarter worth about $28,000. Finally, Rothschild Investment LLC boosted its holdings in shares of CoreWeave by 10,700.0% in the third quarter. Rothschild Investment LLC now owns 216 shares of the company’s stock worth $30,000 after buying an additional 214 shares during the period.

CoreWeave Company Profile

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.