CoreWeave (NASDAQ:CRWV) Shares Up 1.7% - Still a Buy?

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) shares shot 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.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRWV. DA Davidson reaffirmed an "underperform" rating and issued a $36.00 price target on shares of CoreWeave in a report on Tuesday, June 10th. Melius started coverage on CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $40.00 price objective on the stock. Citizens Jmp raised CoreWeave to a "hold" rating in a report on Thursday, May 22nd. Jefferies Financial Group started coverage on CoreWeave in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $51.00 target price on the stock. Finally, Stifel Nicolaus set a $115.00 price target on CoreWeave and gave the company a "hold" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CoreWeave has a consensus rating of "Hold" and an average target price of $90.20.

CoreWeave Trading Up 5.6%

The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60. The business's 50-day moving average is $141.36.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released 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 Trading of CoreWeave

A number of hedge funds have recently modified their holdings of the company. Chelsea Counsel Co. acquired a new position in CoreWeave in the second quarter valued at about $33,000. Chilton Capital Management LLC bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $39,000. SOA Wealth Advisors LLC. lifted its holdings in shares of CoreWeave by 275.0% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company's stock worth $61,000 after purchasing an additional 275 shares in the last quarter. Costello Asset Management INC raised its position in CoreWeave by 33.3% in the 2nd quarter. Costello Asset Management INC now owns 400 shares of the company's stock valued at $65,000 after buying an additional 100 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of CoreWeave during the 2nd quarter valued at $82,000.

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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