CoreWeave (NASDAQ:CRWV) Stock Price Up 2.6% - Should You Buy?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price shot up 2.6% on Wednesday . The stock traded as high as $146.99 and last traded at $144.30. 4,589,466 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 20,165,934 shares. The stock had previously closed at $140.59.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRWV shares. DA Davidson reiterated an "underperform" rating and issued a $36.00 price target on shares of CoreWeave in a research report on Tuesday, June 10th. Mizuho reiterated a "neutral" rating and issued a $150.00 price target (up from $70.00) on shares of CoreWeave in a research report on Tuesday, July 8th. Melius Research upgraded shares of CoreWeave to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of CoreWeave from $43.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Morgan Stanley increased their price target on shares of CoreWeave from $46.00 to $58.00 and gave the company an "equal weight" rating in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.25.

CoreWeave Price Performance

The stock's 50-day moving average is $133.18. 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 posted 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 Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Chelsea Counsel Co. bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $33,000. SOA Wealth Advisors LLC. boosted its stake in shares of CoreWeave by 275.0% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company's stock worth $61,000 after acquiring an additional 275 shares during the period. Western Pacific Wealth Management LP bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $82,000. Webster Bank N. A. bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $82,000. Finally, Farther Finance Advisors LLC bought a new position in shares of CoreWeave during the 2nd quarter worth approximately $90,000.

About CoreWeave

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.