CoreWeave (NASDAQ:CRWV) Stock Gets Price Target Reduction from Citigroup

CoreWeave (NASDAQ:CRWV) had its target price trimmed by Citigroup from $159.00 to $128.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CRWV has been the topic of several other research reports. Wells Fargo & Company increased their price objective on CoreWeave from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. UBS Group decreased their target price on CoreWeave from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of CoreWeave in a report on Thursday, August 13th. Roth Capital set a $145.00 price target on CoreWeave in a research report on Thursday, August 13th. Finally, Jefferies Financial Group restated a “buy” rating on shares of CoreWeave in a research note on Thursday, October 15th. Twenty-seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.41.

CoreWeave Trading Up 6.3%

CRWV traded up $2.74 on Wednesday, reaching $46.40. 59,273,176 shares of the company traded hands, compared to its average volume of 61,954,176. CoreWeave has a one year low of $40.58 and a one year high of $138.25. The firm has a fifty day simple moving average of $75.56 and a two-hundred day simple moving average of $89.88. The company has a market cap of $21.29 billion, a P/E ratio of -12.71 and a beta of 7.71. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.52) by $0.38. The company had revenue of $2.58 billion during the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. CoreWeave’s quarterly revenue was up 112.5% on a year-over-year basis. During the same period last year, the firm earned ($0.27) earnings per share. As a group, equities research analysts expect that CoreWeave will post -4.97 earnings per share for the current year.

Insider Activity at CoreWeave

In other CoreWeave news, CRO Jonathan Jones sold 21,569 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $77.42, for a total transaction of $1,669,871.98. Following the sale, the executive owned 5,392 shares of the company’s stock, valued at approximately $417,448.64. This trade represents a 80.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nitin Agrawal sold 22,579 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $80.13, for a total transaction of $1,809,255.27. Following the completion of the sale, the chief financial officer owned 110,017 shares in the company, valued at $8,815,662.21. This represents a 17.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,231,708 shares of company stock valued at $383,236,223 over the last 90 days. Insiders own 24.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRWV. Astra Wealth Partners LLC acquired a new stake in CoreWeave in the third quarter worth about $264,000. Money Concepts Capital Corp increased its holdings in shares of CoreWeave by 10.5% during the third quarter. Money Concepts Capital Corp now owns 2,784 shares of the company’s stock valued at $243,000 after acquiring an additional 264 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of CoreWeave by 6.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 126,366 shares of the company’s stock valued at $11,008,000 after purchasing an additional 7,794 shares during the last quarter. Eurizon Capital SGR S.p.A. raised its position in shares of CoreWeave by 41.9% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 21,124 shares of the company’s stock valued at $1,840,000 after purchasing an additional 6,240 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of CoreWeave in the 3rd quarter valued at approximately $203,000.

Key Stories Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Better-than-expected results from other AI-cloud companies helped spark a sector relief rally, lifting CoreWeave after Thursday’s losses. Article: Cloudflare and IREN earnings spark an AI-cloud rebound
• Positive Sentiment: Investors are looking to strong AI demand, a reported $104 billion backlog and expanding infrastructure as potential supports for CoreWeave’s Q3 results. Article: CRWV poised for a Q3 earnings beat
• Neutral Sentiment: Q3 expectations point to rapid growth—guidance implies roughly 158% year-over-year revenue growth—but an adjusted operating margin of about 6.5% would underscore that growth is not yet translating into robust profitability. Article: CoreWeave stock is no bargain—earnings preview
• Negative Sentiment: CoreWeave’s bond yield has topped 16%, signaling heightened concern about the cost of financing its infrastructure expansion. High leverage and a 0.46 current ratio add to refinancing and liquidity risks. Article: CoreWeave bond yield tops 16%
• Negative Sentiment: Investors are also weighing possible tighter rules and slower permitting for data centers, including in Texas, a key market for infrastructure growth. Article: Is CoreWeave facing a growth squeeze from data-center rules?
• Negative Sentiment: A broader pullback in AI and data-center stocks, alongside an analyst downgrade and a price-target cut, has added pressure ahead of earnings. Article: AI stocks hammered as data-center concerns rise

About CoreWeave

CoreWeave is a cloud computing company that provides infrastructure for artificial intelligence, machine learning, and other compute-intensive workloads. Its services include access to graphics processing units (GPUs), cloud storage and networking, and software tools for deploying and managing workloads.

The company was founded in 2017 as a cryptocurrency mining business and later shifted its focus to cloud computing. CoreWeave is headquartered in Livingston, New Jersey, and operates data center infrastructure in the United States and Europe, serving customers that need large-scale computing resources.

Co-founder Michael Intrator serves as CoreWeave’s chief executive officer.