CoreWeave (NASDAQ:CRWV) Trading 2.6% Higher Following Analyst Upgrade

Key Points

• CoreWeave shares rose 2.6% after Citigroup lifted its price target from $155 to $158 and reiterated a buy rating, adding to generally bullish analyst sentiment on the stock.
• Several other firms have also raised targets recently, and MarketBeat reports a consensus “Moderate Buy” with an average price target of $131.97, though some analysts remain neutral or hold-rated.
• The company continues to draw attention for its rapid AI-related revenue growth, but concerns remain around losses, heavy debt, and significant insider selling in recent months.

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) traded up 2.6% during trading on Thursday after Citigroup raised their price target on the stock from $155.00 to $158.00. Citigroup currently has a buy rating on the stock. CoreWeave traded as high as $118.21 and last traded at $114.22. 26,906,350 shares were traded during trading, a decline of 4% from the average session volume of 28,157,010 shares. The stock had previously closed at $111.31.

CRWV has been the topic of several other research reports. UBS Group reaffirmed a "neutral" rating on shares of CoreWeave in a research report on Friday, January 16th. Wells Fargo & Company lifted their target price on shares of CoreWeave from $135.00 to $155.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Cantor Fitzgerald lifted their target price on shares of CoreWeave from $156.00 to $167.00 and gave the company an "overweight" rating in a report on Monday. Oppenheimer lifted their target price on shares of CoreWeave from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Barclays lifted their target price on shares of CoreWeave from $106.00 to $120.00 and gave the company an "equal weight" rating in a report on Monday. Twenty analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.97.

Insider Buying and Selling at CoreWeave

In related news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of the business's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the transaction, the insider owned 282,570 shares in the company, valued at approximately $33,428,031. The trade was a 83.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian M. Venturo sold 1,125,000 shares of the business's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $80.86, for a total transaction of $90,967,500.00. Following the transaction, the insider owned 285,327 shares of the company's stock, valued at approximately $23,071,541.22. The trade was a 79.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 24,448,144 shares of company stock valued at $2,741,354,245.

CoreWeave News Summary

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Citigroup’s higher target adds to a run of analyst confidence in CoreWeave, suggesting the stock may still have room to rise if AI demand stays elevated. Benzinga
• Positive Sentiment: Recent coverage highlighted strong AI infrastructure demand, including reported first-quarter revenue growth and a very large backlog, which supports the company’s growth narrative. Article Title
• Positive Sentiment: CoreWeave also benefited from news that Nvidia CEO Jensen Huang’s foundation bought more than $108 million of CoreWeave computing capacity for research institutions, underscoring demand for its AI compute services. Article Title
• Neutral Sentiment: CoreWeave’s upcoming presentation at the J.P. Morgan Global Technology, Media and Communications Conference could draw attention, but by itself it is more of a visibility event than a major catalyst. Article Title
• Negative Sentiment: Insider selling, including COO Sachin Jain’s recent share sale, may slightly pressure sentiment even though the company said the sale was tied to tax withholding on vested equity. Article Title
• Negative Sentiment: Some investors remain focused on CoreWeave’s heavy debt, ongoing losses, and questions about whether the AI growth story can keep accelerating at the same pace. Article Title

Hedge Funds Weigh In On CoreWeave

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of CoreWeave by 275.6% during the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after purchasing an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of CoreWeave by 446,194.0% during the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock worth $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Clear Street Group Inc. grew its stake in shares of CoreWeave by 57.2% during the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company's stock worth $333,260,000 after purchasing an additional 1,692,916 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of CoreWeave by 300.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company's stock worth $286,440,000 after purchasing an additional 3,000,000 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of CoreWeave by 22,624.0% during the fourth quarter. Deutsche Bank AG now owns 3,812,856 shares of the company's stock worth $273,039,000 after purchasing an additional 3,796,077 shares in the last quarter.

CoreWeave Trading Up 2.6%

The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.46. The business's 50 day moving average is $96.08 and its 200 day moving average is $92.00. The stock has a market cap of $51.12 billion, a price-to-earnings ratio of -36.72 and a beta of 7.84.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.28). CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%. The company had revenue of $1.57 billion during the quarter. CoreWeave's revenue was up 110.4% compared to the same quarter last year. As a group, equities analysts expect that CoreWeave Inc. will post -4.15 earnings per share for the current fiscal year.

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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