CoreWeave (NASDAQ:CRWV) Trading 7.8% Higher Following Analyst Upgrade

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) rose 7.8% during trading on Monday after Barclays raised their price target on the stock from $100.00 to $140.00. Barclays currently has an equal weight rating on the stock. CoreWeave traded as high as $132.98 and last traded at $132.64. Approximately 5,630,457 shares changed hands during trading, a decline of 72% from the average daily volume of 19,858,580 shares. The stock had previously closed at $123.02.

Several other brokerages have also weighed in on CRWV. Needham & Company LLC reaffirmed a "hold" rating and issued a $78.00 target price on shares of CoreWeave in a research report on Thursday, July 10th. Arete Research raised CoreWeave to a "hold" rating in a research report on Thursday, June 5th. JMP Securities started coverage on CoreWeave in a research report on Thursday, May 22nd. They issued a "market perform" rating on the stock. Citizens Jmp raised CoreWeave to a "hold" rating in a research report on Thursday, May 22nd. Finally, Macquarie upped their target price on CoreWeave from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $85.25.

Institutional Trading of CoreWeave

A number of hedge funds have recently modified their holdings of CRWV. Cisco Systems Inc. bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $173,493,000. Sivia Capital Partners LLC bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $39,824,000. Renaissance Capital LLC acquired a new stake in CoreWeave during the 2nd quarter valued at $5,131,000. Goldman Sachs Group Inc. acquired a new stake in CoreWeave during the 1st quarter valued at $963,000. Finally, Floyd Financial Group LLC acquired a new stake in CoreWeave during the 2nd quarter valued at $2,714,000.

CoreWeave Trading Up 7.8%

The stock's fifty day simple moving average is $134.61. 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 analysts' consensus estimates of ($0.16) by ($0.67).

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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