CoreWeave (NASDAQ:CRWV) Shares Up 8.8% - Still a Buy?

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shot up 8.8% on Friday . The company traded as high as $166.22 and last traded at $165.20. 10,442,374 shares traded hands during trading, a decline of 50% from the average session volume of 20,962,254 shares. The stock had previously closed at $151.77.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRWV. Deutsche Bank Aktiengesellschaft assumed coverage on CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $45.00 price objective on the stock. Arete Research raised CoreWeave to a "hold" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their target price on CoreWeave from $43.00 to $66.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Melius assumed coverage on CoreWeave in a research note on Tuesday, April 22nd. They set a "hold" rating and a $40.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on CoreWeave in a research note on Tuesday, April 22nd. They set a "buy" rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.00.

CoreWeave Trading Down 3.3%

The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44. The firm's 50-day moving average is $118.72.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its earnings results 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).

Hedge Funds Weigh In On CoreWeave

Several large investors have recently modified their holdings of CRWV. Goldman Sachs Group Inc. bought a new position in shares of CoreWeave during the 1st quarter valued at approximately $963,000. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave during the 1st quarter valued at approximately $318,000. Fox Hill Wealth Management purchased a new position in CoreWeave during the 2nd quarter valued at $858,000. Howard Financial Services LTD. purchased a new position in CoreWeave during the 2nd quarter valued at $489,000. Finally, Hedges Asset Management LLC purchased a new position in CoreWeave during the 2nd quarter valued at $391,000.

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.