CoreWeave (NASDAQ:CRWV) Stock Price Down 3.5% - What's Next?

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) dropped 3.5% on Wednesday . The company traded as low as $164.63 and last traded at $166.50. Approximately 7,302,559 shares were traded during trading, a decline of 66% from the average daily volume of 21,724,377 shares. The stock had previously closed at $172.62.

Wall Street Analysts Forecast Growth

CRWV has been the subject of a number of recent research reports. Wall Street Zen downgraded CoreWeave from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright initiated coverage on CoreWeave in a research report on Wednesday. They set a "neutral" rating for the company. Citigroup boosted their target price on CoreWeave from $43.00 to $94.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Barclays restated an "equal weight" rating and set a $100.00 target price (up previously from $70.00) on shares of CoreWeave in a research report on Tuesday, May 27th. Finally, Bank of America downgraded CoreWeave from a "buy" rating to a "neutral" rating in a report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $65.00.

CoreWeave Stock Up 1.2%

The business's 50 day moving average price is $104.32.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CoreWeave stock. Goldman Sachs Group Inc. acquired a new position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,980 shares of the company's stock, valued at approximately $963,000.

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.