Cantor Fitzgerald Issues Positive Forecast for CoreWeave (NASDAQ:CRWV) Stock Price

Key Points

• Cantor Fitzgerald raised its price target on CoreWeave from $156 to $167 and kept an overweight rating, implying about 40% upside from the prior close.
• Wall Street remains broadly positive on the stock, with 20 Buy ratings versus 11 Hold and 2 Sell; the consensus target price is $131.88.
• CoreWeave reported strong revenue growth of $1.57 billion for the quarter, up 110.4% year over year, but it still posted a loss of $0.89 per share and insiders have recently sold a large amount of stock.

CoreWeave (NASDAQ:CRWV - Get Free Report) had its price target hoisted by equities research analysts at Cantor Fitzgerald from $156.00 to $167.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 40.11% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Evercore restated an "outperform" rating and set a $150.00 price target on shares of CoreWeave in a report on Wednesday, April 15th. HC Wainwright restated a "buy" rating and set a $180.00 price target on shares of CoreWeave in a report on Monday, March 2nd. Citizens Jmp reiterated a "market outperform" rating and issued a $180.00 target price on shares of CoreWeave in a research note on Friday, February 27th. UBS Group reiterated a "neutral" rating on shares of CoreWeave in a research note on Friday, January 16th. Finally, Bank of America upgraded shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Tuesday, March 24th. Twenty investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $131.88.

CoreWeave Stock Performance

CRWV stock traded up $5.05 during mid-day trading on Monday, reaching $119.20. 9,608,250 shares of the stock traded hands, compared to its average volume of 27,947,697. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 4.46. CoreWeave has a 52 week low of $52.90 and a 52 week high of $187.00. The business has a 50-day moving average of $94.19 and a two-hundred day moving average of $92.34. The firm has a market capitalization of $52.80 billion, a PE ratio of -38.15 and a beta of 7.84.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.28). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 47.88%. The firm had revenue of $1.57 billion for the quarter. CoreWeave's revenue was up 110.4% compared to the same quarter last year. As a group, equities analysts predict that CoreWeave will post -4.15 EPS for the current fiscal year.

Insider Transactions at CoreWeave

In other CoreWeave news, insider Brian M. Venturo sold 1,125,000 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the completion of the transaction, the insider owned 285,327 shares in the company, 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 at 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 firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the transaction, the insider owned 282,570 shares of the company's stock, valued at approximately $33,428,031. This represents a 83.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,140,849 shares of company stock valued at $2,703,881,259.

Institutional Trading of CoreWeave

Several hedge funds have recently modified their holdings of CRWV. Vanguard Group Inc. increased its holdings in shares of CoreWeave by 275.6% during the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC increased 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 buying an additional 17,847,760 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of CoreWeave by 22,624.0% during the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company's stock worth $273,039,000 after buying an additional 3,796,077 shares in the last quarter. Altimeter Capital Management LP acquired a new stake in shares of CoreWeave during the fourth quarter worth approximately $230,099,000. Finally, Alyeska Investment Group L.P. increased its holdings in shares of CoreWeave by 300.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company's stock worth $286,440,000 after buying an additional 3,000,000 shares in the last quarter.

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.

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