CoreWeave (NASDAQ:CRWV) Stock Price Up 6.6% - Still a Buy?

Key Points

• CoreWeave shares rose 6.6% in Monday trading, briefly reaching $79.31 before closing near $78.03, though volume was well below the typical session level.
• Analysts remain broadly positive: Jefferies, Oppenheimer, Deutsche Bank, Truist, and Wells Fargo all recently updated ratings or price targets, and the stock now carries a “Moderate Buy” consensus with an average target of $138.87.
• The company’s latest earnings showed strong revenue growth to $2.08 billion, up 111.6% year over year, but CoreWeave still posted a wider-than-expected loss of $1.40 per share and continues to face heavy leverage and negative margins.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price rose 6.6% during mid-day trading on Monday . The company traded as high as $79.31 and last traded at $78.0290. Approximately 4,609,370 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 28,197,264 shares. The stock had previously closed at $73.21.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of CoreWeave from $120.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Oppenheimer raised their target price on shares of CoreWeave from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $135.00 target price on shares of CoreWeave in a research note on Friday, May 8th. Truist Financial boosted their price target on CoreWeave from $85.00 to $131.00 and gave the company a "hold" rating in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their price target on CoreWeave from $135.00 to $155.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Twenty research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $138.87.

CoreWeave Stock Performance

The company has a market cap of $33.57 billion, a price-to-earnings ratio of -24.12 and a beta of 7.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 3.68. The stock's 50 day moving average price is $100.38 and its 200 day moving average price is $95.33.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.23). CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The company had revenue of $2.08 billion during the quarter. During the same quarter in the previous year, the company earned ($0.60) earnings per share. The business's revenue was up 111.6% on a year-over-year basis. On average, analysts expect that CoreWeave Inc. will post -4.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jack D. Cogen sold 986,540 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $107.80, for a total value of $106,349,012.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Magnetar Financial Llc sold 1,284,876 shares of CoreWeave stock in a transaction on Friday, May 1st. The shares were sold at an average price of $119.91, for a total value of $154,069,481.16. Following the completion of the transaction, the insider owned 264,061 shares in the company, valued at $31,663,554.51. The trade was a 82.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 20,516,306 shares of company stock worth $2,400,874,625. 24.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On CoreWeave

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of CoreWeave by 4.0% during the first quarter. Parallel Advisors LLC now owns 2,340 shares of the company's stock valued at $181,000 after acquiring an additional 91 shares in the last quarter. Pathway Wealth Management LLC lifted its stake in shares of CoreWeave by 2.9% in the first quarter. Pathway Wealth Management LLC now owns 3,593 shares of the company's stock worth $278,000 after acquiring an additional 100 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in CoreWeave by 2.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,020 shares of the company's stock valued at $389,000 after purchasing an additional 104 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of CoreWeave by 34.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 462 shares of the company's stock valued at $33,000 after buying an additional 119 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in CoreWeave by 45.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company's stock valued at $28,000 after acquiring an additional 121 shares in the last quarter.

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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