CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Hits New 52-Week High – Here’s Why

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) reached a new 52-week high on Wednesday . The stock traded as high as $64.87 and last traded at $63.26, with a volume of 9976425 shares traded. The stock had previously closed at $58.49.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRWV. Moffett Nathanson began coverage on CoreWeave, Inc. Class A Common Stock in a research report on Monday, May 5th. They set a “neutral” rating and a $43.00 price target on the stock. Melius Research raised CoreWeave, Inc. Class A Common Stock to a “hold” rating in a research report on Tuesday, April 22nd. Stifel Nicolaus began coverage on CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They set a “buy” rating and a $55.00 price target on the stock. Bank of America lifted their price target on CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their price target on CoreWeave, Inc. Class A Common Stock from $46.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CoreWeave, Inc. Class A Common Stock has an average rating of “Hold” and a consensus target price of $53.38.

CoreWeave, Inc. Class A Common Stock Stock Down 2.5%

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last posted its quarterly 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 Activity at CoreWeave, Inc. Class A Common Stock

In other news, Director Jack D. Cogen sold 220,760 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $47.56, for a total value of $10,499,345.60. Following the sale, the director now directly owns 126,220 shares in the company, valued at $6,003,023.20. This represents a 63.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nitin Agrawal sold 12,720 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the sale, the chief financial officer now owns 231,811 shares in the company, valued at $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,940 shares of company stock worth $13,786,546 over the last three months.

Institutional Trading of CoreWeave, Inc. Class A Common Stock

An institutional investor recently bought a new position in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,575 shares of the company’s stock, valued at approximately $318,000.

CoreWeave, Inc. Class A Common Stock 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.