CoreWeave (NASDAQ:CRWV) Given New $168.00 Price Target at Bank of America

CoreWeave (NASDAQ:CRWV) had its target price reduced by Bank of America from $185.00 to $168.00 in a research report report published on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Hsbc Global Res raised shares of CoreWeave to a “moderate sell” rating in a research report on Thursday, July 17th. Arete started coverage on shares of CoreWeave in a research note on Thursday, June 5th. They set a “neutral” rating and a $130.00 price target for the company. Macquarie raised their price target on shares of CoreWeave from $65.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday. Northland Capmk upgraded shares of CoreWeave to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus raised their price target on shares of CoreWeave from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $99.80.

CoreWeave Price Performance

CoreWeave stock opened at $117.76 on Wednesday. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00. The business’s 50 day moving average price is $141.16. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60.

CoreWeave (NASDAQ:CRWV) last posted its earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The business had revenue of $1.21 million for the quarter. The business’s quarterly revenue was up 206.7% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cisco Systems Inc. purchased a new position in shares of CoreWeave during the 2nd quarter valued at $173,493,000. Geode Capital Management LLC grew its position in shares of CoreWeave by 142.6% during the 2nd quarter. Geode Capital Management LLC now owns 716,178 shares of the company’s stock valued at $116,809,000 after purchasing an additional 420,915 shares in the last quarter. Lmdagg L.L.C. purchased a new position in shares of CoreWeave during the 2nd quarter valued at $48,030,000. Sivia Capital Partners LLC bought a new stake in shares of CoreWeave during the 2nd quarter worth $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of CoreWeave during the 2nd quarter worth $34,284,000.

CoreWeave 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.