Mizuho Cuts CoreWeave (NASDAQ:CRWV) Price Target to $100.00

CoreWeave (NASDAQ:CRWV) had its price objective reduced by stock analysts at Mizuho from $110.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential upside of 28.32% from the stock’s previous close.

Several other equities analysts have also commented on CRWV. Citigroup upped their target price on CoreWeave from $155.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wolfe Research restated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. Weiss Ratings raised shares of CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of CoreWeave in a research report on Thursday, July 2nd. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of CoreWeave in a report on Thursday, June 11th. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, CoreWeave presently has an average rating of “Moderate Buy” and a consensus price target of $136.42.

CoreWeave Price Performance

NASDAQ:CRWV traded down $2.01 during trading hours on Wednesday, reaching $77.93. 17,450,871 shares of the company traded hands, compared to its average volume of 28,310,697. The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50-day moving average is $103.54 and its 200-day moving average is $95.38. The stock has a market cap of $34.88 billion, a P/E ratio of -25.08 and a beta of 7.17. CoreWeave has a 1-year low of $63.80 and a 1-year high of $153.20.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data 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). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company had revenue of $2.08 billion during the quarter. During the same quarter in the prior year, the company earned ($0.60) EPS. The firm’s quarterly revenue was up 111.6% on a year-over-year basis. Equities research analysts expect that CoreWeave will post -4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at CoreWeave

In other news, Director Jack D. Cogen sold 986,540 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total transaction of $106,349,012.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the company’s stock in a transaction 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 $33,428,031. This represents a 83.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,130,539 shares of company stock valued at $2,824,785,086 in the last three months. Corporate insiders own 24.20% of the company’s stock.

Institutional Trading of CoreWeave

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of CoreWeave by 4.0% during the 1st quarter. Parallel Advisors LLC now owns 2,340 shares of the company’s stock worth $181,000 after buying an additional 91 shares in the last quarter. Pathway Wealth Management LLC increased its stake in shares of CoreWeave by 2.9% during the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company’s stock valued at $278,000 after acquiring an additional 100 shares during the period. Azzad Asset Management Inc. ADV raised its holdings in CoreWeave by 2.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company’s stock worth $389,000 after purchasing an additional 104 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in CoreWeave by 34.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company’s stock worth $33,000 after purchasing an additional 119 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter.

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.