CoreWeave (NASDAQ:CRWV) Stock Price Down 1.6% – What’s Next?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price traded down 1.6% during mid-day trading on Friday . The company traded as low as $72.13 and last traded at $73.12. 14,104,133 shares traded hands during trading, a decline of 42% from the average session volume of 24,184,018 shares. The stock had previously closed at $74.29.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRWV shares. Needham & Company LLC reaffirmed a “hold” rating on shares of CoreWeave in a report on Wednesday, August 13th. Stifel Nicolaus set a $120.00 target price on shares of CoreWeave in a report on Tuesday, November 11th. Wells Fargo & Company lowered their target price on shares of CoreWeave from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Seaport Res Ptn raised shares of CoreWeave to a “hold” rating in a report on Monday, September 15th. Finally, Citizens Jmp upgraded shares of CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.14.

CoreWeave Stock Down 1.6%

The stock has a market capitalization of $28.25 billion and a P/E ratio of -50.43. The stock has a 50 day moving average price of $115.67 and a 200-day moving average price of $120.05. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.14. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company earned ($1.82) earnings per share. The company’s revenue was up 133.7% compared to the same quarter last year. CoreWeave has set its FY 2025 guidance at EPS.

Insider Activity

In other news, SVP Chen Goldberg sold 13,740 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $90.79, for a total value of $1,247,454.60. Following the transaction, the senior vice president owned 23,344 shares in the company, valued at approximately $2,119,401.76. This trade represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian M. Venturo sold 281,250 shares of CoreWeave stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $87.57, for a total transaction of $24,629,062.50. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 31,770,906 shares of company stock valued at $4,100,786,595.

Hedge Funds Weigh In On CoreWeave

Several hedge funds and other institutional investors have recently modified their holdings of CRWV. Costello Asset Management INC grew its stake in shares of CoreWeave by 33.3% in the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock worth $65,000 after purchasing an additional 100 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in CoreWeave by 50.2% in the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after buying an additional 121 shares during the period. Family Legacy Financial Solutions LLC lifted its holdings in CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 125 shares during the period. CoreCap Advisors LLC grew its position in shares of CoreWeave by 29.6% in the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock worth $88,000 after buying an additional 147 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in shares of CoreWeave by 36.0% during the third quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock valued at $93,000 after buying an additional 180 shares during the period.

CoreWeave Company Profile

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.