CoreWeave (NASDAQ:CRWV) Trading Down 4% - Time to Sell?

Key Points

• CoreWeave's stock (NASDAQ:CRWV) dropped by 4% during trading on Friday, closing at $115.15 after previously reaching $120.00.
• Analysts have mixed views on the stock, with price targets ranging from $61 to $165 and an average target price of $85.25, suggesting a predominant "Hold" rating.
• The company reported an earnings loss of ($0.83) EPS, which was significantly below the consensus estimate of ($0.16).
• Several hedge funds recently acquired shares in CoreWeave, indicating some continued interest from institutional investors despite recent stock performance.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares dropped 4% during mid-day trading on Friday . The stock traded as low as $114.56 and last traded at $115.15. Approximately 4,451,823 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 19,297,490 shares. The stock had previously closed at $120.00.

Wall Street Analyst Weigh In

CRWV has been the topic of several research analyst reports. Citigroup raised their target price on shares of CoreWeave from $43.00 to $94.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Melius Research raised shares of CoreWeave to a "hold" rating in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $115.00 target price on shares of CoreWeave and gave the stock a "hold" rating in a research report on Tuesday, July 8th. Macquarie raised their price target on shares of CoreWeave from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, JMP Securities began coverage on shares of CoreWeave in a report on Thursday, May 22nd. They issued a "market perform" rating on the stock. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.25.

CoreWeave Price Performance

The stock has a fifty day moving average price of $140.23. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data 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 Investors Weigh In On CoreWeave

Several institutional investors have recently bought and sold shares of CRWV. Ritholtz Wealth Management bought a new stake in CoreWeave in the second quarter worth about $374,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of CoreWeave in the 2nd quarter valued at about $205,000. TD Asset Management Inc acquired a new position in shares of CoreWeave in the 2nd quarter valued at about $3,463,000. Axxcess Wealth Management LLC bought a new stake in shares of CoreWeave in the 2nd quarter valued at approximately $326,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of CoreWeave in the 2nd quarter valued at approximately $735,000.

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.