Citigroup Initiates Coverage on CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV)

Citigroup initiated coverage on shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a neutral rating and a $43.00 price target on the stock.

Several other brokerages have also recently issued reports on CRWV. DA Davidson raised CoreWeave, Inc. Class A Common Stock to a "hold" rating in a report on Sunday, March 30th. Jefferies Financial Group began coverage on shares of CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They set a "buy" rating and a $51.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $43.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of CoreWeave, Inc. Class A Common Stock in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $54.00 price objective for the company. Finally, Morgan Stanley assumed coverage on CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued an "equal weight" rating and a $46.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $46.86.

CoreWeave, Inc. Class A Common Stock Trading Down 0.6 %

Shares of NASDAQ:CRWV traded down $0.23 during midday trading on Tuesday, reaching $41.54. The company's stock had a trading volume of 8,752,856 shares, compared to its average volume of 14,329,952. CoreWeave, Inc. Class A Common Stock has a twelve month low of $33.51 and a twelve month high of $64.62.

Insider Activity

In other news, CFO Nitin Agrawal sold 12,720 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the transaction, the chief financial officer now directly owns 231,811 shares of the company's stock, valued at approximately $9,272,440. This trade represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jack D. Cogen sold 220,760 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $47.56, for a total transaction of $10,499,345.60. Following the sale, the director now directly owns 126,220 shares of the company's stock, valued at approximately $6,003,023.20. This represents a 63.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,940 shares of company stock worth $13,786,546 over the last quarter.

About CoreWeave, Inc. Class A Common Stock

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.