CoreWeave (NASDAQ:CRWV) Upgraded to "Market Outperform" at JMP Securities

Key Points

• CoreWeave has been upgraded from a "market perform" to a "market outperform" rating by JMP Securities, indicating a potential upside of 48.31% with a target price set at $180.00.
• The company reported a quarterly revenue increase of 206.7% year-over-year, though it missed earnings estimates with a reported loss of ($0.27) per share.
• Recent institutional investments have been significant, with Cisco Systems purchasing a new position valued at approximately $173.5 million during the second quarter.

CoreWeave (NASDAQ:CRWV - Get Free Report) was upgraded by equities research analysts at JMP Securities from a "market perform" rating to a "market outperform" rating in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a $180.00 target price on the stock. JMP Securities' price objective suggests a potential upside of 48.31% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of CoreWeave in a research report on Wednesday, August 13th. Stifel Nicolaus raised their price target on CoreWeave from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley raised their price target on CoreWeave from $58.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price objective on CoreWeave from $60.00 to $105.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Finally, Argus reiterated a "buy" rating and issued a $200.00 price objective on shares of CoreWeave in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, CoreWeave presently has a consensus rating of "Hold" and an average price target of $114.16.

CoreWeave Price Performance

Shares of NASDAQ CRWV opened at $121.37 on Tuesday. The firm's fifty day moving average price is $113.05. CoreWeave has a 1-year low of $33.51 and a 1-year high of $187.00. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.52.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The business had revenue of $1.21 million during the quarter. The company's quarterly revenue was up 206.7% compared to the same quarter last year. CoreWeave has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS.

Insider Activity at CoreWeave

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 915,382 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $100.15, for a total value of $91,675,507.30. Following the completion of the sale, the insider owned 397,757 shares of the company's stock, valued at $39,835,363.55. This trade represents a 69.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack D. Cogen sold 1,112,004 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total transaction of $105,295,658.76. Following the completion of the sale, the director directly owned 12,329,676 shares of the company's stock, valued at approximately $1,167,497,020.44. The trade was a 8.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,831,764 shares of company stock valued at $981,444,059.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cisco Systems Inc. purchased a new position in CoreWeave during the second quarter valued at approximately $173,493,000. Geode Capital Management LLC increased its holdings in CoreWeave by 142.6% during the second quarter. Geode Capital Management LLC now owns 716,178 shares of the company's stock valued at $116,809,000 after buying an additional 420,915 shares during the period. Lmdagg L.L.C. purchased a new position in CoreWeave during the second quarter valued at approximately $48,030,000. Sivia Capital Partners LLC purchased a new position in CoreWeave during the second quarter valued at approximately $39,824,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in CoreWeave during the second quarter valued at approximately $34,284,000.

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.

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