CoreWeave (NASDAQ:CRWV) Lowered to “Neutral” Rating by Bank of America

Bank of America cut shares of CoreWeave (NASDAQ:CRWV) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat reports.

CRWV has been the subject of several other reports. The Goldman Sachs Group lifted their target price on shares of CoreWeave from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Moffett Nathanson initiated coverage on shares of CoreWeave in a report on Monday, May 5th. They set a “neutral” rating and a $43.00 price objective for the company. Citigroup upped their target price on shares of CoreWeave from $43.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Northland Capmk raised CoreWeave to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Mizuho lifted their price target on CoreWeave from $46.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CoreWeave presently has a consensus rating of “Hold” and an average price target of $65.00.

CoreWeave Stock Performance

Shares of NASDAQ CRWV opened at $170.00 on Monday. The business has a 50-day simple moving average of $86.56. CoreWeave has a twelve month low of $33.51 and a twelve month high of $176.75.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insiders Place Their Bets

In related news, insider Kristen J. Mcveety sold 69,460 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the chief financial officer now directly owns 231,811 shares in the company, valued at approximately $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On CoreWeave

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

About CoreWeave

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.