CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Trading 11.6% Higher – Still a Buy?

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)’s stock price traded up 11.6% during trading on Monday . The company traded as high as $158.90 and last traded at $156.41. 11,492,324 shares changed hands during trading, a decline of 46% from the average session volume of 21,330,088 shares. The stock had previously closed at $140.16.

Analyst Ratings Changes

Several analysts have recently commented on CRWV shares. Moffett Nathanson initiated coverage on CoreWeave, Inc. Class A Common Stock in a report on Monday, May 5th. They set a “neutral” rating and a $43.00 price objective for the company. Jefferies Financial Group began coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $51.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of CoreWeave, Inc. Class A Common Stock in a report on Thursday, May 15th. Citizens Jmp upgraded shares of CoreWeave, Inc. Class A Common Stock to a “hold” rating in a report on Thursday, May 22nd. Finally, JMP Securities initiated coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Thursday, May 22nd. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.00.

CoreWeave, Inc. Class A Common Stock Price Performance

The company’s 50-day moving average is $69.24.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last posted its quarterly earnings data 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 Buying and Selling

In related news, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the transaction, the chief financial officer now directly owns 231,811 shares of the company’s stock, valued at approximately $9,272,440. This represents a 5.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen J. Mcveety sold 69,460 shares of the firm’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 $2,778,400.00. The disclosure for this sale can be found here.

Institutional Investors Weigh In On 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 purchased a new position in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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.