CoreWeave (NASDAQ:CRWV) Shares Gap Up - Here's What Happened

Key Points

• CoreWeave shares gapped up pre-market from $71.29 to $74.76 and last traded at $74.77 on volume of about 5.98 million shares.
• Wall Street has a consensus rating of Moderate Buy with an average price target of $130.14, reflecting a wide range of analyst views (targets roughly $110–$180).
• The company reported revenue of $1.36 billion, up 133.7% year‑over‑year, and beat EPS estimates despite a $(0.22) loss; however, CoreWeave remains unprofitable with a negative P/E, a weak current ratio (~0.49) and high debt-to-equity (~2.66), and insiders have sold large stakes recently.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $71.29, but opened at $74.76. CoreWeave shares last traded at $74.77, with a volume of 5,976,001 shares traded.

Wall Street Analysts Forecast Growth

CRWV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and issued a $110.00 price target on shares of CoreWeave in a research report on Tuesday, November 11th. Raymond James Financial initiated coverage on shares of CoreWeave in a research note on Monday, September 15th. They issued an "outperform" rating and a $130.00 target price for the company. Needham & Company LLC restated a "hold" rating on shares of CoreWeave in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of CoreWeave in a report on Wednesday, August 13th. Finally, Citizens Jmp raised CoreWeave from a "market perform" rating to an "outperform" rating and set a $180.00 price objective on the stock in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $130.14.

CoreWeave Stock Performance

The firm has a fifty day simple moving average of $117.54 and a 200-day simple moving average of $120.69. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The stock has a market cap of $29.08 billion and a price-to-earnings ratio of -51.90.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business posted ($1.82) earnings per share. The firm's quarterly revenue was up 133.7% on a year-over-year basis. CoreWeave has set its FY 2025 guidance at EPS.

Insider Activity

In other news, SVP Chen Goldberg sold 13,740 shares of the firm's stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $90.79, for a total value of $1,247,454.60. Following the transaction, the senior vice president owned 23,344 shares of the company's stock, valued at approximately $2,119,401.76. This trade represents a 37.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kristen J. Mcveety sold 2,231 shares of CoreWeave stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $82.55, for a total transaction of $184,169.05. Following the sale, the insider owned 2,195 shares of the company's stock, valued at approximately $181,197.25. This represents a 50.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 32,767,065 shares of company stock worth $4,203,496,471.

Institutional Trading of CoreWeave

Institutional investors and hedge funds have recently made changes to their positions in the business. Nvidia Corp boosted its position in shares of CoreWeave by 0.4% in the 2nd quarter. Nvidia Corp now owns 24,277,573 shares of the company's stock worth $3,958,701,000 after purchasing an additional 95,113 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock valued at $2,443,013,000 after buying an additional 17,847,760 shares during the period. Vanguard Group Inc. boosted its holdings in CoreWeave by 109.7% during the third quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company's stock worth $1,017,275,000 after buying an additional 3,888,164 shares during the last quarter. Invesco Ltd. grew its position in shares of CoreWeave by 55,329.7% during the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company's stock worth $410,454,000 after buying an additional 2,993,889 shares during the period. Finally, Clear Street Group Inc. bought a new stake in shares of CoreWeave in the 3rd quarter valued at about $405,199,000.

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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