CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Shares Gap Up - What's Next?

Shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $116.15, but opened at $123.50. CoreWeave, Inc. Class A Common Stock shares last traded at $127.37, with a volume of 4,548,422 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citizens Jmp upgraded shares of CoreWeave, Inc. Class A Common Stock to a "hold" rating in a research note on Thursday, May 22nd. Macquarie lifted their price objective on CoreWeave, Inc. Class A Common Stock from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Morgan Stanley boosted their target price on CoreWeave, Inc. Class A Common Stock from $46.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They issued a "hold" rating and a $45.00 price target for the company. Finally, Mizuho upped their target price on shares of CoreWeave, Inc. Class A Common Stock from $46.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CoreWeave, Inc. Class A Common Stock presently has an average rating of "Hold" and a consensus price target of $60.94.

CoreWeave, Inc. Class A Common Stock Stock Up 3.4%

The stock's 50 day moving average is $60.06.

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

Insiders Place Their Bets

In related news, insider Kristen J. Mcveety sold 69,460 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack D. Cogen sold 220,760 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $47.56, for a total transaction of $10,499,345.60. Following the completion of the transaction, the director now directly owns 126,220 shares in the company, valued at $6,003,023.20. This represents a 63.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,940 shares of company stock valued at $13,786,546.

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 purchased a new stake in shares of CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,575 shares of the company's stock, valued at approximately $318,000.

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.