CoreWeave (NASDAQ:CRWV) Stock Price Up 5.8% - Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares traded up 5.8% on Friday . The company traded as high as $184.70 and last traded at $179.89. 12,584,249 shares changed hands during trading, a decline of 42% from the average session volume of 21,585,314 shares. The stock had previously closed at $170.00.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRWV. Moffett Nathanson began coverage on CoreWeave in a research report on Monday, May 5th. They set a "neutral" rating and a $43.00 price objective for the company. Barclays reissued an "equal weight" rating and issued a $100.00 price target (up previously from $70.00) on shares of CoreWeave in a research note on Tuesday, May 27th. Bank of America cut shares of CoreWeave from a "buy" rating to a "neutral" rating in a research note on Monday, June 16th. Wells Fargo & Company upped their price objective on shares of CoreWeave from $50.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 price target on shares of CoreWeave in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.00.

CoreWeave Price Performance

The business has a fifty day moving average of $91.91.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.67).

Insider Buying and Selling

In other news, insider Kristen J. Mcveety sold 69,460 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $2,778,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nitin Agrawal sold 12,720 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the sale, the chief financial officer now directly owns 231,811 shares of the company's stock, valued at $9,272,440. This represents a 5.20% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On CoreWeave

An institutional investor recently bought a new position in CoreWeave stock. Gamco Investors INC. ET AL purchased a new position in CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,575 shares of the company's stock, valued at approximately $318,000.

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.