CoreWeave (NASDAQ:CRWV) Trading Down 3.8% – Here’s Why

CoreWeave Inc. (NASDAQ:CRWV) fell 3.8% on Tuesday . The stock traded as low as $94.82 and last traded at $99.81. 29,546,190 shares changed hands during trading, an increase of 5% from the average session volume of 28,226,064 shares. The stock had previously closed at $103.77.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave closed a $3.1 billion delayed draw term loan facility, giving it more funding to expand its AI cloud platform and support committed customer deployments. The deal also broadens access to GPU-backed financing. CoreWeave Closes $3.1 Billion Loan Facility, Expanding Access to Public Markets for GPU-Backed Financing
• Positive Sentiment: Some commentary still argues CoreWeave looks undervalued, pointing to rapid revenue growth and a very large backlog that could support future expansion. Why CoreWeave Still Looks Undervalued

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRWV. Citigroup raised their target price on CoreWeave from $155.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised their target price on CoreWeave from $90.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Roth Mkm reissued a “buy” rating and set a $150.00 target price on shares of CoreWeave in a research report on Friday, May 8th. Sanford C. Bernstein raised their target price on CoreWeave from $56.00 to $67.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 14th. Finally, Oppenheimer lifted their price target on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.63.

CoreWeave Stock Performance

The company has a market cap of $44.67 billion, a price-to-earnings ratio of -32.09 and a beta of 7.84. The firm has a 50-day simple moving average of $98.02 and a 200 day simple moving average of $91.45. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion for the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company’s revenue for the quarter was up 110.4% on a year-over-year basis. On average, sell-side analysts predict that CoreWeave Inc. will post -4.15 earnings per share for the current fiscal year.

Insider Activity at CoreWeave

In related news, insider Brian M. Venturo sold 1,125,000 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the completion of the sale, the insider directly owned 285,327 shares of the company’s stock, valued at $23,071,541.22. This trade represents a 79.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $118.30, for a total value of $166,172,106.10. Following the sale, the insider directly owned 282,570 shares of the company’s stock, valued at approximately $33,428,031. This represents a 83.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 24,708,631 shares of company stock worth $2,771,929,486.

Institutional Investors Weigh In On CoreWeave

Hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its holdings in shares of CoreWeave by 272.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of CoreWeave during the third quarter worth $27,000. Aspect Partners LLC acquired a new stake in shares of CoreWeave during the third quarter worth $28,000. Cullen Frost Bankers Inc. lifted its holdings in shares of CoreWeave by 45.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock worth $28,000 after purchasing an additional 121 shares during the period. Finally, Greenline Wealth Management LLC acquired a new stake in shares of CoreWeave during the fourth quarter worth $28,000.

CoreWeave Company Profile

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.