CoreWeave (NASDAQ:CRWV) Trading Up 3.8% After Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV)’s share price was up 3.8% on Wednesday after Robert W. Baird upgraded the stock to a strong-buy rating. The company traded as high as $85.37 and last traded at $82.64. Approximately 22,762,729 shares were traded during mid-day trading, a decline of 20% from the average session volume of 28,282,906 shares. The stock had previously closed at $79.58.

A number of other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald started coverage on CoreWeave in a research note on Wednesday. They issued an “overweight” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of CoreWeave in a research note on Thursday, July 2nd. Weiss Ratings raised CoreWeave from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, Roth Capital reissued a “buy” rating and issued a $150.00 price objective on shares of CoreWeave in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CoreWeave presently 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 stock in a transaction on 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 transaction, the chief executive officer directly owned 2,876,815 shares in the company, valued at $250,110,296.10. This represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 53,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $86.13, for a total transaction of $4,564,890.00. 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 17,070,099 shares of company stock valued at $1,982,943,238 in the last quarter. Company insiders own 24.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC increased its holdings in shares of CoreWeave by 272.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of CoreWeave by 45.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 121 shares in the last quarter. Greenline Wealth Management LLC bought a new position in CoreWeave during the 4th quarter valued at about $28,000. Peterson Wealth Services grew its stake in CoreWeave by 153.1% during the first quarter. Peterson Wealth Services now owns 405 shares of the company’s stock worth $31,000 after buying an additional 245 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of CoreWeave in the first quarter valued at approximately $31,000.

CoreWeave Stock Down 5.2%

The firm has a market capitalization of $34.40 billion, a price-to-earnings ratio of -25.83 and a beta of 7.17. The firm has a fifty day moving average price of $97.75 and a 200 day moving average price of $95.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68.

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 business had revenue of $2.08 billion during the quarter. During the same period last year, the firm posted ($0.60) EPS. The business’s revenue was up 111.6% on a year-over-year basis. Sell-side analysts anticipate that CoreWeave Inc. will post -4.57 EPS 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.