CoreWeave (NASDAQ:CRWV) Trading 8.9% Higher After Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV) shares traded up 8.9% during trading on Tuesday after Robert W. Baird upgraded the stock to a strong-buy rating. The company traded as high as $80.45 and last traded at $79.58. Approximately 23,880,139 shares were traded during mid-day trading, a decline of 16% from the average session volume of 28,293,385 shares. The stock had previously closed at $73.06.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. increased their target price on shares of CoreWeave from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and set a $150.00 price objective on shares of CoreWeave in a research report on Wednesday, April 15th. Citigroup lowered shares of CoreWeave from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on CoreWeave from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Mizuho dropped their price target on CoreWeave from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Buying and Selling

In other CoreWeave news, CEO Michael N. Intrator sold 61,797 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $86.94, for a total transaction of $5,372,631.18. Following the completion of the transaction, the chief executive officer owned 2,876,815 shares in the company, valued at $250,110,296.10. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian M. Venturo sold 76,912 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $86.99, for a total transaction of $6,690,574.88. Following the transaction, the insider owned 283,985 shares in the company, valued at approximately $24,703,855.15. This trade represents a 21.31% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 17,072,869 shares of company stock valued at $1,983,274,420 over the last three months. 24.20% of the stock is owned by corporate insiders.

CoreWeave News Summary

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Robert W. Baird upgraded CoreWeave to strong-buy, adding to a cluster of bullish analyst calls that can support the shares. Read More
• Positive Sentiment: Truist also upgraded CoreWeave to buy, with the stock jumping on the fresh endorsement as investors reacted positively to improving sentiment around the name. CoreWeave Jumps 6% on Truist Buy Upgrade, Pulling Ahead of Cloudflare, Snowflake, Oracle
• Positive Sentiment: Baird initiated coverage on CoreWeave with an outperform rating, signaling confidence in the company’s AI-cloud positioning and revenue growth potential. CoreWeave, Nebius initiated with outperform ratings at Baird
• Positive Sentiment: Analysts highlighted CoreWeave’s expected 108% second-quarter revenue growth and continued power-ramp investment, reinforcing the bullish growth narrative. CoreWeave (CRWV) Is Chasing 108% Q2 Revenue Growth With A Big Power Ramp
• Neutral Sentiment: Barclays reportedly lowered its expectations for CoreWeave’s stock price, which may temper enthusiasm but does not change the longer-term growth debate. Barclays Has Lowered Expectations for CoreWeave (NASDAQ:CRWV) Stock Price
• Negative Sentiment: CoreWeave’s CFO sold about $5.5 million in company shares, which some investors may view cautiously even though insider sales do not necessarily signal trouble. CoreWeave’s CFO Sold Company Shares for $5.5 Million. What Does That Mean for Investors?
• Negative Sentiment: Articles questioning CoreWeave’s heavy debt burden and large capital-spending needs continue to underscore execution and balance-sheet risk for investors. Can CoreWeave (NASDAQ:CRWV) Outgrow Its Heavy Debt Burden?

Institutional Trading of CoreWeave

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

CoreWeave Trading Up 1.7%

The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The company has a market capitalization of $37.61 billion, a P/E ratio of -27.04 and a beta of 7.17. The business has a fifty day moving average price of $98.41 and a 200 day moving average price of $95.46.

CoreWeave (NASDAQ:CRWV) last released its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.08 billion during the quarter. During the same period in the prior year, the business posted ($0.60) earnings per share. The company’s quarterly revenue was up 111.6% compared to the same quarter last year. On average, analysts expect that CoreWeave Inc. will post -4.57 earnings per share for the current fiscal year.

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.