CoreWeave (NASDAQ:CRWV) Stock Price Up 1.7% - What's Next?

Key Points

• CoreWeave shares increased by 1.7% on Tuesday, trading between $107.80 and $112.98, with a notable 76% decrease in trading volume.
• Analyst ratings for CoreWeave reflect a mixed sentiment, with the consensus rating being "Hold" and an average target price of $90.20.
• The company reported an earnings miss with an EPS of (0.83), significantly below the consensus estimate of (0.16).

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) traded up 1.7% on Tuesday . The company traded as high as $112.98 and last traded at $107.80. 4,566,402 shares were traded during trading, a decline of 76% from the average session volume of 18,765,334 shares. The stock had previously closed at $106.01.

Analyst Ratings Changes

CRWV has been the subject of a number of analyst reports. Mizuho reissued a "neutral" rating and set a $150.00 price objective (up previously from $70.00) on shares of CoreWeave in a research note on Tuesday, July 8th. Melius assumed coverage on CoreWeave in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $40.00 price objective on the stock. Needham & Company LLC restated a "hold" rating and set a $78.00 price target on shares of CoreWeave in a research report on Thursday, July 10th. HC Wainwright reiterated a "neutral" rating on shares of CoreWeave in a research report on Monday, July 14th. Finally, Northland Capmk raised CoreWeave to a "strong-buy" rating in a research note on Tuesday, May 13th. Three research 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $90.20.

CoreWeave Price Performance

The company's fifty day simple moving average is $141.31. 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 announced its earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Institutional Trading of CoreWeave

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRWV. Cisco Systems Inc. acquired a new position in shares of CoreWeave in the 2nd quarter valued at about $173,493,000. Geode Capital Management LLC increased its stake in CoreWeave by 142.6% during the 2nd quarter. Geode Capital Management LLC now owns 716,178 shares of the company's stock worth $116,809,000 after buying an additional 420,915 shares in the last quarter. Lmdagg L.L.C. purchased a new stake in shares of CoreWeave in the second quarter valued at approximately $48,030,000. Sivia Capital Partners LLC purchased a new stake in shares of CoreWeave in the second quarter valued at approximately $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in CoreWeave in the second quarter valued at approximately $34,284,000.

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.