Barclays Issues Pessimistic Forecast for CoreWeave (NASDAQ:CRWV) Stock Price

Key Points

• Barclays cut its price target on CoreWeave from $140 to $120 and maintained an "equal weight" rating, a target that Barclays says implies roughly a 36.6% upside from the prior close.
• CoreWeave beat quarterly estimates with $1.36 billion in revenue (up 133.7% YoY) and EPS of ($0.22) vs. ($0.36) expected, but the stock trades around $87.85 with a negative P/E and a $42.9 billion market cap.
• Insider selling has been heavy: Director Jack D. Cogen sold ~1.11M shares and Magnetar sold ~1.45M, with insiders offloading about 36.74M shares (~$4.59B) in the last 90 days.

CoreWeave (NASDAQ:CRWV - Get Free Report) had its price objective reduced by stock analysts at Barclays from $140.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential upside of 36.60% from the company's previous close.

Several other equities analysts have also recently commented on the stock. Argus restated a "buy" rating and issued a $200.00 target price on shares of CoreWeave in a research report on Thursday, August 14th. Seaport Res Ptn upgraded shares of CoreWeave to a "hold" rating in a report on Monday, September 15th. Melius Research set a $140.00 price objective on CoreWeave in a research note on Tuesday. Morgan Stanley lifted their target price on CoreWeave from $91.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Northland Securities boosted their target price on CoreWeave from $85.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $129.46.

CoreWeave Stock Performance

NASDAQ:CRWV traded down $0.54 during trading hours on Wednesday, reaching $87.85. 19,345,666 shares of the stock were exchanged, compared to its average volume of 23,408,521. The stock has a market capitalization of $42.92 billion and a P/E ratio of -77.06. The firm has a 50 day simple moving average of $123.33 and a 200-day simple moving average of $118.83. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted ($1.82) EPS. The business's revenue was up 133.7% compared to the same quarter last year. CoreWeave has set its FY 2025 guidance at EPS.

Insider Buying and Selling at CoreWeave

In other news, Director Jack D. Cogen sold 1,112,004 shares of CoreWeave stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total value of $105,295,658.76. Following the completion of the transaction, the director owned 12,329,676 shares of the company's stock, valued at $1,167,497,020.44. The trade was a 8.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the completion of the transaction, the insider directly owned 363,631 shares in the company, valued at approximately $45,672,053.60. The trade was a 79.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 36,743,427 shares of company stock worth $4,592,624,537.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL purchased a new position in CoreWeave in the first quarter valued at approximately $318,000. Goldman Sachs Group Inc. bought a new stake in shares of CoreWeave during the first quarter valued at about $963,000. Howard Financial Services LTD. acquired a new stake in shares of CoreWeave in the 2nd quarter worth approximately $489,000. McAlister Sweet & Associates Inc. bought a new stake in CoreWeave during the second quarter worth approximately $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in CoreWeave in the 2nd quarter worth about $117,000.

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.

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