CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Stock Price Up 16.1% - Here's Why

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) was up 16.1% during trading on Tuesday . The stock traded as high as $142.50 and last traded at $139.57. Approximately 21,063,832 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 19,347,777 shares. The stock had previously closed at $120.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CRWV shares. Needham & Company LLC reissued a "buy" rating and issued a $55.00 price target on shares of CoreWeave, Inc. Class A Common Stock in a research note on Thursday, May 15th. The Goldman Sachs Group boosted their price target on CoreWeave, Inc. Class A Common Stock from $54.00 to $61.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Morgan Stanley boosted their price target on CoreWeave, Inc. Class A Common Stock from $46.00 to $58.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Mizuho boosted their price target on CoreWeave, Inc. Class A Common Stock from $46.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Bank of America boosted their price target on CoreWeave, Inc. Class A Common Stock from $42.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.94.

CoreWeave, Inc. Class A Common Stock Trading Up 8.4%

The firm has a 50 day simple moving average of $65.53.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings data 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).

Insider Transactions at CoreWeave, Inc. Class A Common Stock

In other news, CFO Nitin Agrawal sold 12,720 shares of the firm'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 $508,800.00. Following the sale, the chief financial officer now owns 231,811 shares in the company, valued at approximately $9,272,440. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen J. Mcveety sold 69,460 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction 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 bought a new position in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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.