CoreWeave (NASDAQ:CRWV) Shares Up 4.3% - Here's Why

Key Points

• Shares rose 4.3% Wednesday, trading as high as $93.90 and last at $88.90 on volume of about 19.36 million shares (down ~24% vs. the average session).
• Analyst sentiment is broadly positive with 19 Buys, 11 Holds and 2 Sells, a consensus rating of "Moderate Buy" and an average price target of $121.06, with several firms raising targets to as high as $140.
• CoreWeave missed quarterly EPS (‑$0.89 vs. consensus ‑$0.61) despite revenue jumping 110% YoY to $1.57B and remaining unprofitable, and insiders have sold roughly 6.06 million shares (~$508.5M) in the past 90 days, including a CEO sale under a 10b5‑1 plan.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s share price shot up 4.3% on Wednesday . The company traded as high as $93.90 and last traded at $88.90. 19,362,427 shares traded hands during trading, a decline of 24% from the average session volume of 25,563,508 shares. The stock had previously closed at $85.24.

Analyst Ratings Changes

A number of research firms have weighed in on CRWV. Roth Mkm reissued a "buy" rating on shares of CoreWeave in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft raised shares of CoreWeave from a "hold" rating to a "buy" rating and upped their price objective for the company from $100.00 to $140.00 in a research report on Tuesday, January 27th. Wells Fargo & Company decreased their price objective on shares of CoreWeave from $150.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, January 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $131.00 price objective on shares of CoreWeave in a research report on Friday, February 27th. Finally, Oppenheimer began coverage on shares of CoreWeave in a research report on Friday, March 6th. They issued an "outperform" rating and a $140.00 price objective for the company. Nineteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, CoreWeave has a consensus rating of "Moderate Buy" and an average price target of $121.06.

CoreWeave Trading Up 4.3%

The firm has a market cap of $37.25 billion and a price-to-earnings ratio of -27.78. The business's 50 day moving average price is $85.71 and its 200-day moving average price is $95.20. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.46 and a current ratio of 0.46.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.28). The company had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The company's revenue for the quarter was up 110.4% on a year-over-year basis.

Insider Activity

In other news, CEO Michael N. Intrator sold 200,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $78.77, for a total value of $15,754,000.00. Following the sale, the chief executive officer owned 5,528,900 shares in the company, valued at approximately $435,511,453. This represents a 3.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brannin Mcbee sold 56,031 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $74.05, for a total transaction of $4,149,095.55. Following the sale, the insider owned 313,732 shares in the company, valued at approximately $23,231,854.60. This trade represents a 15.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,056,729 shares of company stock worth $508,548,027.

Institutional Investors Weigh In On CoreWeave

Several institutional investors and hedge funds have recently bought and sold shares of CRWV. Cornerstone Planning Group LLC raised its stake in CoreWeave by 272.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 251 shares during the period. Family Legacy Financial Solutions LLC raised its stake in CoreWeave by 166.7% during the third quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company's stock worth $27,000 after acquiring an additional 125 shares during the period. HighMark Wealth Management LLC acquired a new stake in CoreWeave during the third quarter worth about $27,000. OLD Second National Bank of Aurora acquired a new stake in shares of CoreWeave in the third quarter valued at approximately $27,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of CoreWeave in the third quarter valued at approximately $27,000.

About CoreWeave

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.

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