CoreWeave's (CRWV) Hold Rating Reaffirmed at Needham & Company LLC

CoreWeave (NASDAQ:CRWV - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Marketbeat reports. They currently have a $78.00 price target on the stock. Needham & Company LLC's price objective indicates a potential downside of 43.60% from the stock's previous close.

A number of other research firms also recently issued reports on CRWV. Morgan Stanley lifted their price objective on shares of CoreWeave from $46.00 to $58.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Wells Fargo & Company increased their price objective on CoreWeave from $50.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoreWeave in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $45.00 price target for the company. Barclays reissued an "equal weight" rating and set a $100.00 price objective (up previously from $70.00) on shares of CoreWeave in a research report on Tuesday, May 27th. Finally, Jefferies Financial Group began coverage on CoreWeave in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $51.00 price target on the stock. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CoreWeave has a consensus rating of "Hold" and a consensus price target of $74.59.

CoreWeave Stock Down 9.6%

CoreWeave stock traded down $14.76 during midday trading on Thursday, hitting $138.29. 16,383,773 shares of the stock were exchanged, compared to its average volume of 15,513,923. CoreWeave has a 52-week low of $33.51 and a 52-week high of $187.00. The stock's 50-day simple moving average is $125.01. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.44 and a current ratio of 0.44.

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

Institutional Trading of CoreWeave

Large investors have recently added to or reduced their stakes in the business. Cisco Systems Inc. bought a new position in shares of CoreWeave in the second quarter worth about $173,493,000. Sivia Capital Partners LLC purchased a new stake in shares of CoreWeave in the second quarter valued at $39,824,000. Goldman Sachs Group Inc. purchased a new position in CoreWeave during the 1st quarter valued at $963,000. RFG Holdings Inc. purchased a new stake in CoreWeave in the 2nd quarter valued at about $1,450,000. Finally, Gamco Investors INC. ET AL bought a new position in CoreWeave during the 1st quarter worth about $318,000.

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.