CoreWeave (NASDAQ:CRWV) Given "Buy" Rating at Argus

Key Points

• CoreWeave's stock has received a "buy" rating from Argus, with a price target of $200.00, indicating a potential upside of 69.84% from its current price.
• The company's stock has experienced a 20.8% decline recently, with a current price of $117.76 after opening.
• CoreWeave reported a revenue increase of 206.7% compared to the same quarter last year, despite missing earnings estimates with a reported loss of ($0.27) per share.

CoreWeave (NASDAQ:CRWV - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Argus in a research report issued on Thursday,Benzinga reports. They currently have a $200.00 price objective on the stock. Argus' target price would suggest a potential upside of 69.84% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Arete began coverage on CoreWeave in a research report on Thursday, June 5th. They set a "neutral" rating and a $130.00 price objective for the company. Wells Fargo & Company boosted their price objective on CoreWeave from $60.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of CoreWeave in a research report on Wednesday. Wall Street Zen cut CoreWeave from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, HC Wainwright reissued a "neutral" rating on shares of CoreWeave in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CoreWeave has an average rating of "Hold" and an average price target of $99.80.

CoreWeave Stock Down 20.8%

Shares of NASDAQ:CRWV opened at $117.76 on Thursday. CoreWeave has a fifty-two week low of $33.51 and a fifty-two week high of $187.00. The business has a 50-day moving average of $141.16. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.60.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The business had revenue of $1.21 million during the quarter. CoreWeave's revenue for the quarter was up 206.7% compared to the same quarter last year.

Hedge Funds Weigh In On CoreWeave

Institutional investors have recently bought and sold shares of the business. Chelsea Counsel Co. bought a new position in CoreWeave in the 2nd quarter valued at $33,000. Archer Investment Corp bought a new position in CoreWeave in the 2nd quarter valued at $34,000. Chilton Capital Management LLC bought a new position in CoreWeave in the 2nd quarter valued at $39,000. TD Waterhouse Canada Inc. bought a new position in CoreWeave in the 2nd quarter valued at $47,000. Finally, Montag A & Associates Inc. bought a new position in CoreWeave in the 2nd quarter valued at $49,000.

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.

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