HC Wainwright Reaffirms "Neutral" Rating for CoreWeave (NASDAQ:CRWV)

Key Points

• HC Wainwright has restated a "Neutral" rating for CoreWeave (NASDAQ:CRWV) following a series of assessments by other analysts, including a downgrade from Bank of America.
• CoreWeave's recent quarterly earnings showed a 206.7% increase in revenue year-over-year, despite missing EPS estimates by $0.07.
• Institutional investors have shown interest, with several hedge funds acquiring significant new stakes in CoreWeave during the second quarter, indicating growing confidence in the company's prospects.

CoreWeave (NASDAQ:CRWV - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports.

Several other research analysts have also recently weighed in on CRWV. Bank of America cut CoreWeave from a "buy" rating to a "neutral" rating in a research report on Monday, June 16th. Arete Research raised CoreWeave to a "hold" rating in a research report on Thursday, June 5th. Needham & Company LLC reiterated a "hold" rating and set a $78.00 target price on shares of CoreWeave in a report on Thursday, July 10th. Melius Research upgraded CoreWeave to a "hold" rating in a report on Tuesday, April 22nd. Finally, Morgan Stanley upped their target price on CoreWeave from $58.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Three equities research 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 data from MarketBeat.com, CoreWeave has a consensus rating of "Hold" and a consensus target price of $90.45.

CoreWeave Stock Up 6.4%

Shares of CoreWeave stock opened at $148.75 on Wednesday. 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 12 month low of $33.51 and a 12 month high of $187.00. The business's fifty day moving average is $142.07.

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

Hedge Funds Weigh In On CoreWeave

Institutional investors and hedge funds have recently made changes to their positions in the company. Western Pacific Wealth Management LP acquired a new position in shares of CoreWeave in the second quarter valued at approximately $82,000. RFG Holdings Inc. acquired a new stake in CoreWeave during the second quarter worth approximately $1,450,000. Aua Capital Management LLC acquired a new stake in CoreWeave during the second quarter worth approximately $397,000. Sivia Capital Partners LLC acquired a new stake in CoreWeave during the second quarter worth approximately $39,824,000. Finally, Wesbanco Bank Inc. acquired a new stake in CoreWeave during the second quarter worth approximately $212,000.

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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