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

Key Points

• Barclays cut its price target on CoreWeave from $120 to $90 and kept an equal weight rating, signaling a more cautious outlook even though the new target still implies about 23% upside.
• CoreWeave’s stock opened at $73.06 and the company remains highly volatile, with a 12-month range of $63.80 to $153.20 and a beta of 7.17. It also carries heavy leverage, with a debt-to-equity ratio of 3.68 and weak liquidity ratios of 0.31.
• The company’s latest earnings showed strong revenue growth but continued losses: revenue rose 111.6% year over year to $2.08 billion, while EPS came in at -$1.40, wider than expected. Analysts also expect CoreWeave to post a full-year loss of -4.57 EPS.

CoreWeave (NASDAQ:CRWV - Get Free Report) had its price objective cut by research analysts at Barclays from $120.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential upside of 23.19% from the stock's current price.

CRWV has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $135.00 target price on shares of CoreWeave in a report on Friday, May 8th. Truist Financial lifted their price target on CoreWeave from $85.00 to $131.00 and gave the company a "hold" rating in a research note on Friday, May 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $167.00 target price on shares of CoreWeave in a research report on Thursday, June 11th. Mizuho decreased their price objective on CoreWeave from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Wednesday, July 15th. Finally, Oppenheimer raised their target price on shares of CoreWeave from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Twenty 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.58.

CoreWeave Trading Down 0.2%

Shares of CRWV stock opened at $73.06 on Tuesday. The company has a market capitalization of $32.70 billion, a P/E ratio of -23.49 and a beta of 7.17. CoreWeave has a 12-month low of $63.80 and a 12-month high of $153.20. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68. The firm has a 50-day moving average price of $99.55 and a 200 day moving average price of $95.33.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.23). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The firm had revenue of $2.08 billion during the quarter. During the same period in the prior year, the business earned ($0.60) EPS. The company's revenue was up 111.6% compared to the same quarter last year. Research analysts forecast that CoreWeave will post -4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CoreWeave news, insider Brian M. Venturo sold 76,912 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.99, for a total value of $6,690,574.88. Following the completion of the sale, the insider owned 283,985 shares of the company's stock, valued at $24,703,855.15. The trade was a 21.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brannin Mcbee sold 53,000 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $86.13, for a total transaction of $4,564,890.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 19,885,161 shares of company stock valued at $2,326,801,573. Company insiders own 24.20% of the company's stock.

Institutional Investors Weigh In On CoreWeave

A number of large investors have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC acquired a new position in CoreWeave in the 2nd quarter valued at $39,824,000. Quantbot Technologies LP acquired a new stake in shares of CoreWeave during the 2nd quarter worth $311,000. Invesco Ltd. acquired a new stake in shares of CoreWeave during the 2nd quarter worth $882,000. First Trust Advisors LP bought a new position in shares of CoreWeave in the second quarter worth $20,260,000. Finally, Baird Financial Group Inc. acquired a new position in CoreWeave in the second quarter valued at about $455,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.