CoreWeave (NASDAQ:CRWV) Stock Rating Upgraded by Citigroup

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 issued to investors on Thursday, MarketBeat.com reports. They currently have $160.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. HSBC began coverage on shares of CoreWeave in a report on Wednesday, July 16th. They set a "reduce" rating and a $32.00 price target for the company. Needham & Company LLC reissued a "hold" rating and set a $78.00 price objective on shares of CoreWeave in a research report on Thursday, July 10th. Melius started coverage on shares of CoreWeave in a research report on Tuesday, April 22nd. They set a "hold" rating and a $40.00 price objective on the stock. Moffett Nathanson started coverage on shares of CoreWeave in a research report on Monday, May 5th. They set a "neutral" rating and a $43.00 price objective on the stock. Finally, HC Wainwright reissued a "neutral" rating on shares of CoreWeave in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CoreWeave currently has a consensus rating of "Hold" and an average target price of $90.20.

CoreWeave Trading Down 8.8%

CoreWeave stock traded down $9.99 during mid-day trading on Thursday, hitting $104.14. 13,003,288 shares of the company traded hands, compared to its average volume of 12,284,514. CoreWeave has a one year low of $33.51 and a one year high of $187.00. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44. The business's fifty day moving average price is $141.29.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently bought and sold shares of the company. Chelsea Counsel Co. bought a new position in CoreWeave during the 2nd quarter valued at about $33,000. Chilton Capital Management LLC bought a new position in CoreWeave during the 2nd quarter valued at about $39,000. SOA Wealth Advisors LLC. lifted its stake in CoreWeave by 275.0% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 375 shares of the company's stock valued at $61,000 after acquiring an additional 275 shares during the period. Costello Asset Management INC lifted its stake in CoreWeave by 33.3% during the 2nd quarter. Costello Asset Management INC now owns 400 shares of the company's stock valued at $65,000 after acquiring an additional 100 shares during the period. Finally, Western Pacific Wealth Management LP bought a new position in CoreWeave during the 2nd quarter valued at about $82,000.

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.