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CoreWeave (NASDAQ:CRWV) Trading 7.2% Higher - Should You Buy?

CoreWeave logo with Computer and Technology background

Key Points

  • CoreWeave's stock rose by 7.2% during trading, reaching a high of $141.50 before closing at $138.88, despite a significant drop in trading volume.
  • A consensus rating of "Hold" has been assigned to CoreWeave shares, with a price target of $90.20, reflecting mixed sentiment from analysts, including some who maintain a "buy" rating.
  • In its last earnings report, CoreWeave missed expectations, reporting a loss of ($0.83) per share compared to the consensus estimate of ($0.16).
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CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price traded up 7.2% during mid-day trading on Monday . The company traded as high as $141.50 and last traded at $138.88. 9,488,229 shares traded hands during trading, a decline of 49% from the average session volume of 18,597,104 shares. The stock had previously closed at $129.55.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. DA Davidson reaffirmed an "underperform" rating and set a $36.00 price target on shares of CoreWeave in a report on Tuesday, June 10th. HC Wainwright reaffirmed a "neutral" rating on shares of CoreWeave in a report on Monday, July 14th. Hsbc Global Res raised CoreWeave to a "moderate sell" rating in a report on Thursday, July 17th. Northland Capmk raised CoreWeave to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Jefferies Financial Group assumed coverage on CoreWeave in a report on Tuesday, April 22nd. They issued a "buy" rating and a $51.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $90.20.

Check Out Our Latest Stock Report on CoreWeave

CoreWeave Stock Performance

The business's fifty day moving average is $141.71. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44.

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

Institutional Investors Weigh In On CoreWeave

A number of institutional investors and hedge funds have recently modified their holdings of the business. Chelsea Counsel Co. purchased a new stake in shares of CoreWeave in the 2nd quarter worth $33,000. Chilton Capital Management LLC purchased a new stake in shares of CoreWeave in the 2nd quarter worth $39,000. Montag A & Associates Inc. purchased a new stake in shares of CoreWeave in the 2nd quarter worth $49,000. SOA Wealth Advisors LLC. lifted its holdings in shares of CoreWeave by 275.0% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company's stock worth $61,000 after buying an additional 275 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of CoreWeave in the 2nd quarter worth $61,000.

About CoreWeave

(Get Free Report)

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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