CoreWeave (NASDAQ:CRWV) Stock Price Up 6.6% – Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s share price traded up 6.6% on Monday . The stock traded as high as $79.31 and last traded at $78.0290. Approximately 4,609,370 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 28,197,264 shares. The stock had previously closed at $73.21.

Key Headlines Impacting CoreWeave

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Truist upgraded CoreWeave to Buy, which supports the bullish view that the stock may still have room to run. CoreWeave upgraded to buy at Truist
• Positive Sentiment: Several reports highlighted strong demand for CoreWeave’s GPU cloud services and growing customer commitments, with analysts arguing that revenue could keep rising if the company successfully ramps power capacity and data center activation. CoreWeave faces execution test as data center activation ramps up
• Positive Sentiment: Market commentary also pointed to upside potential tied to the broader AI infrastructure buildout, helping sentiment around CoreWeave as an AI-cloud beneficiary. Price Prediction: CoreWeave Has 124% Upside Despite Capex Concerns
• Neutral Sentiment: Barclays cut its price target to $90 from $120 and kept an Equal Weight rating, signaling more caution even though the revised target still implies upside from current levels. Benzinga report on Barclays price target cut
• Neutral Sentiment: Coverage ahead of earnings noted that investors are focused on whether CoreWeave can convert demand into capacity fast enough, as execution risk and capex remain key questions. Is CoreWeave (CRWV) Fairly Valued As Earnings Near And Capex Concerns Persist?
• Negative Sentiment: Articles questioning whether CoreWeave can outgrow its heavy debt burden and warning about execution strain may keep pressure on the shares by reinforcing balance-sheet and funding concerns. Can CoreWeave (NASDAQ:CRWV) Outgrow Its Heavy Debt Burden?

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein reissued an “underperform” rating on shares of CoreWeave in a report on Thursday, June 11th. Robert W. Baird set a $100.00 price objective on CoreWeave in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of CoreWeave in a research report on Thursday, July 2nd. Mizuho cut their target price on CoreWeave from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Finally, BNP Paribas Exane assumed coverage on CoreWeave in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $192.00 target price on the stock. Twenty equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

CoreWeave Stock Performance

The firm has a market cap of $35.62 billion, a PE ratio of -25.59 and a beta of 7.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. The firm’s 50 day simple moving average is $98.99 and its 200 day simple moving average is $95.38.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The company had revenue of $2.08 billion for the quarter. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm’s revenue was up 111.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.60) earnings per share. On average, research analysts forecast that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Insider Buying and Selling at CoreWeave

In other news, Director Jack D. Cogen sold 986,540 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $107.80, for a total transaction of $106,349,012.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian M. Venturo sold 375,000 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $109.03, for a total transaction of $40,886,250.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,369,029 shares of company stock worth $2,019,468,133 in the last quarter. 24.20% of the stock is owned by corporate insiders.

Institutional Trading of CoreWeave

A number of large investors have recently made changes to their positions in CRWV. Vanguard Group Inc. lifted its holdings in shares of CoreWeave by 275.6% in the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after acquiring an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC increased its stake in 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 acquiring an additional 17,847,760 shares during the last quarter. Deutsche Bank AG raised its position in CoreWeave by 22,624.0% during the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company’s stock valued at $273,039,000 after purchasing an additional 3,796,077 shares during the period. Altimeter Capital Management LP purchased a new stake in CoreWeave during the fourth quarter valued at approximately $230,099,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of CoreWeave by 300.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company’s stock valued at $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter.

About CoreWeave

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.