CoreWeave (NASDAQ:CRWV) Trading Down 1.9% - Here's What Happened

Key Points

• Shares fell 1.9% to about $115.16 intraday with volume down ~35% versus the daily average; the company has a market cap of roughly $48.3 billion.
• Analysts maintain a consensus rating of “Moderate Buy” with a consensus price target of $125.16 (20 Buys, 11 Holds, 2 Sells), while individual targets range widely from the mid-$80s to $156.
• CoreWeave reported an EPS miss (‑$0.89 vs. ‑$0.61) despite revenue of $1.57B, up 110% YoY, and the company shows negative margins and high leverage; insiders have been active sellers, including Magnetar’s recent $24.2M disposition and ~11.0M shares sold in the past three months.

Shares of CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) were down 1.9% during trading on Tuesday . The company traded as low as $113.80 and last traded at $115.16. Approximately 18,137,506 shares changed hands during trading, a decline of 35% from the average daily volume of 27,779,068 shares. The stock had previously closed at $117.43.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of CoreWeave from $84.00 to $85.00 and gave the stock a "hold" rating in a research note on Friday, February 27th. Wells Fargo & Company decreased their target price on shares of CoreWeave from $150.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, January 8th. Cantor Fitzgerald lifted their target price on shares of CoreWeave from $149.00 to $156.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. The Goldman Sachs Group initiated coverage on CoreWeave in a research report on Monday, January 12th. They issued a "neutral" rating and a $86.00 price target on the stock. Finally, Barclays raised their price objective on CoreWeave from $90.00 to $106.00 and gave the company an "equal weight" rating in a research report on Monday. Twenty research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, CoreWeave currently has an average rating of "Moderate Buy" and a consensus price target of $125.16.

CoreWeave Price Performance

The firm's fifty day simple moving average is $88.94 and its 200-day simple moving average is $93.82. The firm has a market capitalization of $48.26 billion and a PE ratio of -35.99. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 4.46.

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 the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion for the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The firm's quarterly revenue was up 110.4% on a year-over-year basis. On average, research analysts forecast that CoreWeave Inc. will post -4.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 203,356 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $118.85, for a total transaction of $24,168,860.60. Following the transaction, the insider owned 281,832 shares in the company, valued at approximately $33,495,733.20. This represents a 41.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brannin Mcbee sold 22,915 shares of the firm's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $110.82, for a total transaction of $2,539,440.30. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,042,869 shares of company stock worth $1,046,584,763 in the last three months.

Institutional Investors Weigh In On CoreWeave

A number of large investors have recently added to or reduced their stakes in CRWV. HighMark Wealth Management LLC purchased a new position in shares of CoreWeave in the 3rd quarter worth $27,000. OLD Second National Bank of Aurora bought a new position in CoreWeave in the third quarter valued at about $27,000. KERR FINANCIAL PLANNING Corp bought a new position in CoreWeave in the third quarter valued at about $27,000. Aspect Partners LLC purchased a new position in CoreWeave in the third quarter worth about $28,000. Finally, Rothschild Investment LLC boosted its position in CoreWeave by 10,700.0% in the third quarter. Rothschild Investment LLC now owns 216 shares of the company's stock worth $30,000 after purchasing an additional 214 shares during the last quarter.

CoreWeave Company Profile

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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