CoreWeave (NASDAQ:CRWV) Stock Price Up 1.1% - Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price shot up 1.1% on Tuesday . The company traded as high as $164.80 and last traded at $160.25. 9,191,498 shares traded hands during trading, a decline of 57% from the average session volume of 21,392,533 shares. The stock had previously closed at $158.50.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRWV shares. The Goldman Sachs Group boosted their price target on shares of CoreWeave from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Citizens Jmp upgraded shares of CoreWeave to a "hold" rating in a research note on Thursday, May 22nd. Melius assumed coverage on CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $40.00 target price on the stock. DA Davidson reaffirmed an "underperform" rating and issued a $36.00 price target on shares of CoreWeave in a report on Tuesday, June 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price target on shares of CoreWeave in a research report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $65.00.

CoreWeave Price Performance

The firm has a fifty day moving average price of $91.91.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.67).

Insider Buying and Selling

In other CoreWeave news, insider Kristen J. Mcveety sold 69,460 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of CoreWeave stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $508,800.00. Following the transaction, the chief financial officer now directly owns 231,811 shares in the company, valued at $9,272,440. This trade represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CoreWeave

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

About CoreWeave

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.