Mizuho Has Lowered Expectations for CoreWeave (NASDAQ:CRWV) Stock Price

CoreWeave (NASDAQ:CRWV) had its price target decreased by equities research analysts at Mizuho from $110.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential upside of 28.32% from the company’s previous close.

A number of other brokerages have also issued reports on CRWV. Citigroup boosted their target price on CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Truist Financial lifted their price target on CoreWeave from $85.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. BNP Paribas Exane started coverage on shares of CoreWeave in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $192.00 target price for the company. Evercore reissued an “outperform” rating and issued a $150.00 target price on shares of CoreWeave in a research report on Wednesday, April 15th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of CoreWeave in a report on Thursday, July 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, CoreWeave has an average rating of “Moderate Buy” and a consensus target price of $136.42.

CoreWeave Price Performance

Shares of NASDAQ CRWV traded down $2.01 during midday trading on Wednesday, reaching $77.93. The company’s stock had a trading volume of 17,450,871 shares, compared to its average volume of 28,310,697. The company has a market cap of $34.88 billion, a price-to-earnings ratio of -25.08 and a beta of 7.17. CoreWeave has a one year low of $63.80 and a one year high of $153.20. 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 has a 50 day moving average price of $103.54 and a 200 day moving average price of $95.38.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.60) earnings per share. On average, equities research analysts expect that CoreWeave will post -4.57 EPS for the current year.

Insider Activity

In related news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the sale, the insider directly owned 282,570 shares in the company, valued at approximately $33,428,031. This trade represents a 83.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian M. Venturo sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $115.93, for a total transaction of $130,421,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 24,130,539 shares of company stock worth $2,824,785,086 in the last 90 days. Company insiders own 24.20% of the company’s stock.

Institutional Investors Weigh In On CoreWeave

Several large investors have recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in shares of CoreWeave in the 2nd quarter valued at $39,824,000. Quantbot Technologies LP acquired a new stake in CoreWeave during the second quarter worth about $311,000. Invesco Ltd. acquired a new position in CoreWeave in the 2nd quarter valued at approximately $882,000. First Trust Advisors LP acquired a new position in CoreWeave in the 2nd quarter valued at approximately $20,260,000. Finally, Baird Financial Group Inc. bought a new stake in shares of CoreWeave in the 2nd quarter worth approximately $455,000.

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.