CoreWeave (NASDAQ:CRWV) Trading 3.3% Higher - Here's What Happened

Key Points

• CoreWeave's stock increased by 3.3% during trading, closing at $125.06, though trading volume was down 60% compared to its average session volume.
• Analysts have mixed views on CoreWeave, with one brokerage downgrading its rating to "sell" while others, like Wells Fargo and Northland Securities, raised their price targets significantly.
• CoreWeave reported an earnings miss of ($0.83) per share, falling short of the estimated ($0.16), highlighting ongoing challenges for the company.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) shares traded up 3.3% during mid-day trading on Friday . The stock traded as high as $130.98 and last traded at $125.06. 7,347,925 shares changed hands during trading, a decline of 60% from the average session volume of 18,592,854 shares. The stock had previously closed at $121.08.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRWV. Wall Street Zen downgraded shares of CoreWeave from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their price objective on CoreWeave from $50.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, May 15th. Northland Securities lifted their price target on CoreWeave from $85.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. JMP Securities initiated coverage on shares of CoreWeave in a report on Thursday, May 22nd. They set a "market perform" rating on the stock. Finally, HSBC assumed coverage on CoreWeave in a report on Wednesday, July 16th. They issued a "reduce" rating and a $32.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CoreWeave currently has a consensus rating of "Hold" and a consensus target price of $90.20.

CoreWeave Stock Up 3.7%

The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60. The company has a fifty day moving average price of $141.31.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued 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 hedge funds and other institutional investors have recently bought and sold shares of CRWV. Gamco Investors INC. ET AL acquired a new stake in CoreWeave in the 1st quarter valued at $318,000. Goldman Sachs Group Inc. acquired a new stake in shares of CoreWeave during the 1st quarter worth about $963,000. Howard Financial Services LTD. purchased a new stake in CoreWeave during the 2nd quarter worth approximately $489,000. McAlister Sweet & Associates Inc. purchased a new stake in shares of CoreWeave during the second quarter worth approximately $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of CoreWeave in the 2nd quarter valued at $117,000.

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.

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