CoreWeave (NASDAQ:CRWV) Trading 2.7% Higher – Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV) shares were up 2.7% during mid-day trading on Monday . The stock traded as high as $74.21 and last traded at $73.60. Approximately 29,506,058 shares changed hands during trading, an increase of 22% from the average daily volume of 24,188,328 shares. The stock had previously closed at $71.65.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Arete Research upgraded shares of CoreWeave from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Arete raised CoreWeave from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Thursday, August 21st. Melius Research set a $140.00 price objective on CoreWeave in a research note on Tuesday, November 11th. The Goldman Sachs Group decreased their target price on CoreWeave from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. Finally, DA Davidson reiterated an “underperform” rating and set a $36.00 target price on shares of CoreWeave in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.14.

CoreWeave Price Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a 50 day moving average price of $118.49 and a two-hundred day moving average price of $120.55.

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

Insider Transactions at CoreWeave

In other news, SVP Chen Goldberg sold 13,740 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $90.79, for a total transaction of $1,247,454.60. Following the transaction, the senior vice president owned 23,344 shares of the company’s stock, valued at approximately $2,119,401.76. This trade represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael N. Intrator sold 32,455 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $74.71, for a total value of $2,424,713.05. Following the completion of the sale, the chief executive officer directly owned 5,958,600 shares of the company’s stock, valued at approximately $445,167,006. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,685,533 shares of company stock valued at $4,289,381,690 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nvidia Corp lifted its stake in CoreWeave by 0.4% during the second quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock worth $3,958,701,000 after purchasing an additional 95,113 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after purchasing an additional 17,847,760 shares during the period. Vanguard Group Inc. lifted its position in shares of CoreWeave by 109.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock worth $1,017,275,000 after buying an additional 3,888,164 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of CoreWeave by 55,329.7% in the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock valued at $410,454,000 after buying an additional 2,993,889 shares during the period. Finally, Clear Street Group Inc. acquired a new position in shares of CoreWeave in the 3rd quarter valued at about $405,199,000.

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.