CoreWeave (NASDAQ:CRWV) Trading Up 6.4% - Here's Why

Key Points

• Shares jumped 6.4% intraday to about $122.54 (high $124.96) on Thursday, with roughly 31.6 million shares trading—about 14% above the stock's average daily volume.
• Analyst sentiment is broadly positive, with a consensus rating of "Moderate Buy" and an average price target of $125.16 (20 Buys, 11 Holds, 2 Sells), alongside several recent upgrades and target changes.
• Fundamentals are mixed: revenue rose 110% YoY to $1.57 billion but the company is unprofitable (quarterly EPS -$0.89), has weak liquidity and high leverage, and insiders have sold about 10.76 million shares (~$1.02 billion) over the past 90 days.

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report) was up 6.4% during mid-day trading on Wednesday . The stock traded as high as $124.96 and last traded at $122.54. Approximately 31,628,303 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 27,800,805 shares. The stock had previously closed at $115.16.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRWV shares. Bank of America raised CoreWeave from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Tuesday, March 24th. Jefferies Financial Group cut their target price on CoreWeave from $155.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, January 5th. Evercore reissued an "outperform" rating and issued a $150.00 target price on shares of CoreWeave in a research note on Wednesday, April 15th. Barclays raised their target price on CoreWeave from $90.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CoreWeave from a "hold" rating to a "buy" rating and raised their price objective for the stock from $100.00 to $140.00 in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.16.

CoreWeave Stock Up 6.4%

The company's fifty day moving average price is $89.34 and its 200-day moving average price is $93.68. The stock has a market capitalization of $51.35 billion and a PE ratio of -38.29. 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 released its earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.28). CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. The business had revenue of $1.57 billion for the quarter. The firm's revenue for the quarter was up 110.4% compared to the same quarter last year. Analysts forecast that CoreWeave Inc. will post -4.16 earnings per share for the current year.

Insider Activity

In other news, major shareholder Magnetar Financial Llc sold 1,404,667 shares of CoreWeave stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $118.30, for a total transaction of $166,172,106.10. Following the completion of the transaction, the insider directly owned 282,570 shares in the company, valued at approximately $33,428,031. This trade represents a 83.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brannin Mcbee sold 300,000 shares of CoreWeave stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $72.61, for a total transaction of $21,783,000.00. Following the transaction, the insider owned 248,664 shares of the company's stock, valued at $18,055,493.04. The trade was a 54.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,761,619 shares of company stock worth $1,020,774,450.

Hedge Funds Weigh In On CoreWeave

Several large investors have recently made changes to their positions in the business. Sivia Capital Partners LLC purchased a new position in CoreWeave in the 2nd quarter worth approximately $39,824,000. Quantbot Technologies LP purchased a new position in CoreWeave in the 2nd quarter worth approximately $311,000. Invesco Ltd. purchased a new position in CoreWeave in the 2nd quarter worth approximately $882,000. First Trust Advisors LP purchased a new position in CoreWeave in the 2nd quarter worth approximately $20,260,000. Finally, Baird Financial Group Inc. purchased a new position in CoreWeave in the 2nd quarter worth approximately $455,000.

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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