CoreWeave (NASDAQ:CRWV) Shares Gap Down - What's Next?

Key Points

• CoreWeave Inc. shares gapped down significantly, opening at $135.82 after closing at $139.78, with recent trading at $133.73 and a high volume of over 3.7 million shares.
• Analysts have mixed opinions on CoreWeave, with three rating the stock as a sell and a consensus average price target of $90.20, while one analyst set a high target of $200.00.
• The company reported an earnings miss for the last quarter, with an EPS of ($0.83), falling short of the expected ($0.16).

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $139.78, but opened at $135.82. CoreWeave shares last traded at $133.73, with a volume of 3,710,294 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on CRWV shares. Bank of America cut CoreWeave from a "buy" rating to a "neutral" rating in a report on Monday, June 16th. Macquarie upped their price target on CoreWeave from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft started coverage on CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $45.00 price objective on the stock. Wells Fargo & Company boosted their price objective on CoreWeave from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, May 15th. Finally, Argus began coverage on shares of CoreWeave in a report on Friday, July 11th. They issued a "buy" rating and a $200.00 target price for the company. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $90.20.

CoreWeave Stock Performance

The business's fifty day moving average is $142.11. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44.

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

Hedge Funds Weigh In On CoreWeave

A number of institutional investors have recently modified their holdings of CRWV. Western Pacific Wealth Management LP bought a new position in CoreWeave in the second quarter worth approximately $82,000. RFG Holdings Inc. bought a new position in shares of CoreWeave during the 2nd quarter worth $1,450,000. Aua Capital Management LLC purchased a new position in shares of CoreWeave during the second quarter valued at $397,000. Sivia Capital Partners LLC purchased a new position in shares of CoreWeave during the second quarter valued at $39,824,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of CoreWeave in the second quarter valued at about $212,000.

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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