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

Key Points

• Needham & Company LLC has reissued a "hold" rating for CoreWeave (NASDAQ:CRWV) in a recent research report.
• CoreWeave's stock has received mixed ratings from analysts, with three sell ratings, eighteen hold ratings, and five buy ratings; the consensus rating remains a "hold".
• Despite missing earnings estimates with a reported EPS of ($0.27), CoreWeave has demonstrated significant year-over-year revenue growth of 206.7%.

Needham & Company LLC reissued their hold rating on shares of CoreWeave (NASDAQ:CRWV - Free Report) in a report published on Wednesday,Benzinga reports.

Several other analysts also recently issued reports on CRWV. Arete started coverage on shares of CoreWeave in a research note on Thursday, June 5th. They set a "neutral" rating and a $130.00 target price on the stock. Arete Research raised CoreWeave to a "hold" rating in a research report on Thursday, June 5th. Macquarie boosted their price target on CoreWeave from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Barclays lifted their price objective on CoreWeave from $100.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Finally, Bank of America lowered CoreWeave from a "buy" rating to a "neutral" rating in a research note on Monday, June 16th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CoreWeave has a consensus rating of "Hold" and an average target price of $99.80.

CoreWeave Stock Up 0.5%

Shares of CoreWeave stock traded up $0.47 during trading hours on Wednesday, hitting $99.97. 52,400,601 shares of the company's stock traded hands, compared to its average volume of 16,383,866. CoreWeave has a twelve month low of $33.51 and a twelve month high of $187.00. The stock has a 50 day moving average of $139.65. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.52 and a quick ratio of 0.44.

CoreWeave (NASDAQ:CRWV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The firm had revenue of $1.21 million during the quarter. The company's revenue for the quarter was up 206.7% on a year-over-year basis.

Institutional Investors Weigh In On CoreWeave

Hedge funds have recently bought and sold shares of the business. Chelsea Counsel Co. bought a new position in shares of CoreWeave in the second quarter worth approximately $33,000. Archer Investment Corp purchased a new position in CoreWeave during the second quarter valued at $34,000. Chilton Capital Management LLC bought a new position in CoreWeave during the second quarter valued at $39,000. TD Waterhouse Canada Inc. bought a new stake in shares of CoreWeave in the 2nd quarter worth about $47,000. Finally, Montag A & Associates Inc. bought a new stake in shares of CoreWeave in the 2nd quarter worth about $49,000.

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.