CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Hits New 12-Month High – Should You Buy?

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) hit a new 52-week high during trading on Tuesday . The company traded as high as $88.90 and last traded at $86.59, with a volume of 32751459 shares. The stock had previously closed at $80.30.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRWV. Wells Fargo & Company boosted their target price on shares of CoreWeave, Inc. Class A Common Stock from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, May 15th. The Goldman Sachs Group boosted their target price on shares of CoreWeave, Inc. Class A Common Stock from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They set a “hold” rating and a $45.00 target price for the company. Melius Research upgraded shares of CoreWeave, Inc. Class A Common Stock to a “hold” rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.25.

CoreWeave, Inc. Class A Common Stock Stock Performance

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insider Transactions at CoreWeave, Inc. Class A Common Stock

In other news, Director Jack D. Cogen sold 220,760 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $47.56, for a total value of $10,499,345.60. Following the transaction, the director now owns 126,220 shares of the company’s stock, valued at approximately $6,003,023.20. The trade was a 63.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristen J. Mcveety sold 69,460 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $2,778,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,940 shares of company stock valued at $13,786,546.

Hedge Funds Weigh In On CoreWeave, Inc. Class A Common Stock

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new position in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,575 shares of the company’s stock, valued at approximately $318,000.

About CoreWeave, Inc. Class A Common Stock

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.