CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Receives “Underperform” Rating from DA Davidson

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

Several other research analysts also recently commented on the stock. Citigroup increased their price objective on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Stifel Nicolaus began coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They set a “buy” rating and a $55.00 target price on the stock. Barclays reaffirmed an “equal weight” rating and issued a $100.00 price objective (up previously from $70.00) on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, May 27th. Melius initiated coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They set a “hold” rating and a $40.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on shares of CoreWeave, Inc. Class A Common Stock from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CoreWeave, Inc. Class A Common Stock has an average rating of “Hold” and a consensus target price of $65.00.

CoreWeave, Inc. Class A Common Stock Stock Performance

Shares of CRWV stock traded down $9.50 during trading hours on Tuesday, hitting $152.60. 15,865,691 shares of the company’s stock were exchanged, compared to its average volume of 21,642,016. CoreWeave, Inc. Class A Common Stock has a 12-month low of $33.51 and a 12-month high of $166.63. The stock has a 50 day simple moving average of $71.26.

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

Insider Buying and Selling at CoreWeave, Inc. Class A Common Stock

In related news, 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 transaction, the chief financial officer now directly owns 231,811 shares of the company’s stock, valued at approximately $9,272,440. This trade represents a 5.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CoreWeave, Inc. Class A Common Stock

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL purchased a new position in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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.