CoreWeave (NASDAQ:CRWV) Shares Down 4% - Should You Sell?

Key Points

• CoreWeave's shares fell by 4%, closing at $134.24 after trading as low as $130.43 and experiencing a significant drop in volume, down 71% from average trading volume.
• Wall Street analysts have mixed opinions on CoreWeave, with target prices ranging from $54.00 to $165.00, but the overall consensus rating is "Hold" with an average price target of $90.20.
• The company reported an earnings loss of ($0.83) EPS, significantly below the expected consensus estimate of ($0.16), indicating operational challenges.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) dropped 4% during mid-day trading on Tuesday . The company traded as low as $130.43 and last traded at $134.24. Approximately 5,391,794 shares traded hands during trading, a decline of 71% from the average daily volume of 18,572,199 shares. The stock had previously closed at $139.78.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Needham & Company LLC reaffirmed a "hold" rating and issued a $78.00 target price on shares of CoreWeave in a research note on Thursday, July 10th. Hsbc Global Res upgraded CoreWeave to a "moderate sell" rating in a report on Thursday, July 17th. Northland Securities upped their price objective on CoreWeave from $85.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Finally, Morgan Stanley lifted their target price on CoreWeave from $58.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $90.20.

CoreWeave Trading Up 4.7%

The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a 50-day simple moving average of $142.11.

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

Institutional Investors Weigh In On CoreWeave

Institutional investors have recently modified their holdings of the company. Chelsea Counsel Co. acquired a new stake in CoreWeave during the 2nd quarter worth about $33,000. Archer Investment Corp acquired a new position in CoreWeave in the second quarter valued at approximately $34,000. Chilton Capital Management LLC bought a new position in CoreWeave during the second quarter worth $39,000. Montag A & Associates Inc. bought a new stake in CoreWeave in the 2nd quarter valued at about $49,000. Finally, TD Waterhouse Canada Inc. bought a new position in CoreWeave in the second quarter worth approximately $47,000.

CoreWeave 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.

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