CoreWeave (NASDAQ:CRWV) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus has raised its price target for CoreWeave (NASDAQ:CRWV) from $115.00 to $120.00, indicating a potential downside of 19.33% from the stock's previous close.
• The stock received mixed ratings from analysts, with three sell ratings, eighteen hold ratings, five buy ratings, and one strong buy rating, leading to a consensus rating of "Hold."
• CoreWeave reported quarterly earnings of ($0.27) per share, missing estimates, but showed a substantial year-over-year revenue increase of 206.7%, totaling $1.21 million.

CoreWeave (NASDAQ:CRWV - Get Free Report) had its price target lifted by analysts at Stifel Nicolaus from $115.00 to $120.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target points to a potential downside of 19.33% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. JMP Securities initiated coverage on CoreWeave in a research report on Thursday, May 22nd. They set a "market perform" rating on the stock. JPMorgan Chase & Co. raised their target price on shares of CoreWeave from $43.00 to $66.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup raised shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $160.00 target price on the stock in a research note on Thursday, July 31st. The Goldman Sachs Group raised their target price on shares of CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Needham & Company LLC reissued a "hold" rating and issued a $78.00 target price on shares of CoreWeave in a research note on Thursday, July 10th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $90.45.

CoreWeave Trading Up 6.4%

Shares of CRWV opened at $148.75 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.60. The firm's fifty day simple moving average is $142.07. CoreWeave has a 12 month low of $33.51 and a 12 month high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The business had revenue of $1.21 million during the quarter. The business's revenue for the quarter was up 206.7% compared to the same quarter last year.

Institutional Investors Weigh In On CoreWeave

Several institutional investors have recently modified their holdings of CRWV. Cisco Systems Inc. purchased a new stake in CoreWeave in the second quarter valued at $173,493,000. Geode Capital Management LLC raised its holdings in shares of CoreWeave by 142.6% in the second quarter. Geode Capital Management LLC now owns 716,178 shares of the company's stock valued at $116,809,000 after buying an additional 420,915 shares during the last quarter. Lmdagg L.L.C. purchased a new stake in shares of CoreWeave in the second quarter valued at about $48,030,000. Sivia Capital Partners LLC purchased a new stake in shares of CoreWeave in the second quarter valued at about $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of CoreWeave in the second quarter valued at about $34,284,000.

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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