CoreWeave (NASDAQ:CRWV) Stock Price Up 13.4% Following Analyst Upgrade

Key Points

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CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price was up 13.4% during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $58.00 to $91.00. Morgan Stanley currently has an equal weight rating on the stock. CoreWeave traded as high as $118.98 and last traded at $116.66. Approximately 10,950,953 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 18,950,332 shares. The stock had previously closed at $102.89.

Other analysts have also issued reports about the stock. Melius Research upgraded shares of CoreWeave to a "hold" rating in a research note on Tuesday, April 22nd. Northland Capmk raised CoreWeave to a "strong-buy" rating in a report on Tuesday, May 13th. Moffett Nathanson assumed coverage on CoreWeave in a report on Monday, May 5th. They issued a "neutral" rating and a $43.00 price target for the company. Arete assumed coverage on CoreWeave in a report on Thursday, June 5th. They issued a "neutral" rating and a $130.00 price target for the company. Finally, HSBC assumed coverage on CoreWeave in a report on Wednesday, July 16th. They issued a "reduce" rating and a $32.00 price target for the company. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $90.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRWV. Gamco Investors INC. ET AL acquired a new position in CoreWeave in the 1st quarter worth about $318,000. Goldman Sachs Group Inc. acquired a new position in CoreWeave in the 1st quarter worth about $963,000. Howard Financial Services LTD. acquired a new position in CoreWeave in the 2nd quarter worth about $489,000. McAlister Sweet & Associates Inc. acquired a new position in CoreWeave in the 2nd quarter worth about $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in CoreWeave in the 2nd quarter worth about $117,000.

CoreWeave Price Performance

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 stock has a 50-day moving average price of $141.29.

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

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.