CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Gap Up - Still a Buy?

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $154.90, but opened at $160.01. CoreWeave, Inc. Class A Common Stock shares last traded at $157.23, with a volume of 5,429,551 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of CoreWeave, Inc. Class A Common Stock in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $45.00 price target for the company. Melius assumed coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They issued a "hold" rating and a $40.00 target price on the stock. Stifel Nicolaus assumed coverage on CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a "buy" rating and a $55.00 target price for the company. Bank of America increased their price target on CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Citigroup boosted their price objective on CoreWeave, Inc. Class A Common Stock from $43.00 to $94.00 and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CoreWeave, Inc. Class A Common Stock currently has an average rating of "Hold" and an average target price of $65.00.

CoreWeave, Inc. Class A Common Stock Price Performance

The business has a 50-day moving average of $75.32.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.67).

Insider Buying and Selling

In other CoreWeave, Inc. Class A Common Stock news, CFO Nitin Agrawal sold 12,720 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total value of $508,800.00. Following the transaction, the chief financial officer now owns 231,811 shares of the company's stock, valued at approximately $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen J. Mcveety sold 69,460 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $2,778,400.00. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL acquired a new position in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,575 shares of the company's stock, valued at approximately $318,000.

CoreWeave, Inc. Class A Common Stock Company Profile

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.