CoreWeave (NASDAQ:CRWV) Upgraded by Citigroup to "Buy" Rating

Key Points

• CoreWeave has been upgraded by Citigroup from a "neutral" to a "buy" rating, with a price target of $160.00, indicating a potential upside of 55.51% from its current stock price.
• Brokerage firms have varied ratings on CoreWeave, with three sell ratings, eighteen holds, five buys, and one strong buy contributing to an average rating of "Hold" and a target price of $88.55.
• Despite this positive upgrade, CoreWeave's shares have experienced a decline of 5.4% recently, with fluctuations in its stock price ranging from a low of $33.51 to a high of $187.00 within the past year.

Citigroup upgraded shares of CoreWeave (NASDAQ:CRWV - Free Report) from a neutral rating to a buy rating in a research note released on Thursday, MarketBeat Ratings reports. They currently have $160.00 price target on the stock.

CRWV has been the subject of a number of other reports. Citizens Jmp raised shares of CoreWeave to a "hold" rating in a research note on Thursday, May 22nd. Melius Research raised CoreWeave to a "hold" rating in a research report on Tuesday, April 22nd. HSBC started coverage on CoreWeave in a research report on Wednesday, July 16th. They set a "reduce" rating and a $32.00 target price for the company. Arete Research raised shares of CoreWeave to a "hold" rating in a research note on Thursday, June 5th. Finally, Argus started coverage on shares of CoreWeave in a research note on Friday, July 11th. They set a "buy" rating and a $200.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CoreWeave currently has an average rating of "Hold" and a consensus price target of $90.20.

CoreWeave Stock Performance

Shares of NASDAQ:CRWV traded down $9.26 on Thursday, reaching $104.87. The company's stock had a trading volume of 3,672,906 shares, compared to its average volume of 18,937,510. The business has a 50-day moving average price of $140.98. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.60. CoreWeave has a 52-week low of $33.51 and a 52-week high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings data 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 Trading of CoreWeave

Institutional investors and hedge funds have recently bought and sold shares of the business. Chelsea Counsel Co. acquired a new stake in CoreWeave during the second quarter worth about $33,000. Chilton Capital Management LLC purchased a new stake in CoreWeave in the 2nd quarter worth approximately $39,000. SOA Wealth Advisors LLC. boosted its position in 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 purchasing an additional 275 shares in the last quarter. Costello Asset Management INC grew its stake in shares of CoreWeave by 33.3% during the 2nd quarter. Costello Asset Management INC now owns 400 shares of the company's stock worth $65,000 after purchasing an additional 100 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new position in shares of CoreWeave during the 2nd quarter valued at approximately $82,000.

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.