CoreWeave (NASDAQ:CRWV) Shares Up 1.3% - Should You Buy?

Key Points

• CoreWeave Inc. shares rose by 1.3% to $101.22, following a decline in trading volume of 20% compared to the average session.
• An analyst update showed mixed ratings for CoreWeave, with a consensus of "Hold" and an average price target of $99.80, while Argus set a bullish target of $200.00.
• CoreWeave reported a quarterly loss of ($0.27) earnings per share, which missed analysts’ expectations, but revenue surged by 206.7% year-over-year to $1.21 million.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares shot up 1.3% on Monday . The company traded as high as $103.91 and last traded at $101.22. 15,622,114 shares traded hands during trading, a decline of 20% from the average session volume of 19,616,154 shares. The stock had previously closed at $99.97.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRWV. Melius Research raised CoreWeave to a "hold" rating in a report on Tuesday, April 22nd. Bank of America dropped their target price on CoreWeave from $185.00 to $168.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. Citizens Jmp raised CoreWeave to a "hold" rating in a research note on Thursday, May 22nd. Macquarie increased their price objective on shares of CoreWeave from $65.00 to $115.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Finally, Argus reiterated a "buy" rating and set a $200.00 price objective on shares of CoreWeave in a research note on Thursday. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $99.80.

CoreWeave Stock Down 1.4%

The company's 50 day moving average is $139.65. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.07). The company had revenue of $1.21 million for the quarter. The firm's quarterly revenue was up 206.7% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Chelsea Counsel Co. bought a new position in CoreWeave in the 2nd quarter valued at approximately $33,000. Archer Investment Corp bought a new position in CoreWeave in the 2nd quarter valued at approximately $34,000. Chilton Capital Management LLC bought a new position in CoreWeave in the 2nd quarter valued at approximately $39,000. Montag A & Associates Inc. acquired a new stake in CoreWeave during the 2nd quarter valued at approximately $49,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in CoreWeave during the 2nd quarter valued at approximately $47,000.

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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