Evercore ISI Cuts CoreWeave (NASDAQ:CRWV) Price Target to $160.00

CoreWeave (NASDAQ:CRWV) had its target price trimmed by Evercore ISI from $175.00 to $160.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

CRWV has been the subject of a number of other reports. Macquarie lifted their price target on CoreWeave from $115.00 to $140.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Moffett Nathanson raised their price objective on shares of CoreWeave from $56.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, August 19th. Raymond James Financial began coverage on shares of CoreWeave in a research report on Monday, September 15th. They set an “outperform” rating and a $130.00 target price on the stock. JMP Securities raised shares of CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price target for the company in a report on Tuesday, September 16th. Finally, Wells Fargo & Company upgraded shares of CoreWeave from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $105.00 to $170.00 in a research report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and an average price target of $128.62.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $78.34 on Tuesday. The stock has a market capitalization of $38.27 billion and a P/E ratio of -68.72. CoreWeave has a 1 year low of $33.51 and a 1 year high of $187.00. The firm has a 50 day moving average of $123.05 and a 200-day moving average of $118.32. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.79.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. The company’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Insider Buying and Selling at CoreWeave

In other CoreWeave news, insider Brian M. Venturo sold 29,916 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $127.94, for a total transaction of $3,827,453.04. Following the completion of the sale, the insider owned 215,486 shares in the company, valued at approximately $27,569,278.84. The trade was a 12.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael N. Intrator sold 32,455 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $113.97, for a total value of $3,698,896.35. Following the completion of the transaction, the chief executive officer owned 6,991,055 shares in the company, valued at $796,770,538.35. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,841,785 shares of company stock valued at $4,401,996,484.

Hedge Funds Weigh In On CoreWeave

Several hedge funds have recently added to or reduced their stakes in the stock. Nvidia Corp grew its position in shares of CoreWeave by 0.4% during the 2nd quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock worth $3,958,701,000 after buying an additional 95,113 shares during the period. Vanguard Group Inc. boosted its stake in CoreWeave by 109.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after acquiring an additional 3,888,164 shares during the last quarter. Invesco Ltd. boosted its stake in CoreWeave by 55,329.7% during the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after acquiring an additional 2,993,889 shares during the last quarter. Lavaca Capital LLC acquired a new position in CoreWeave during the third quarter valued at approximately $273,700,000. Finally, First Trust Advisors LP increased its stake in CoreWeave by 1,464.9% in the third quarter. First Trust Advisors LP now owns 1,944,348 shares of the company’s stock valued at $266,084,000 after purchasing an additional 1,820,101 shares in the last quarter.

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.