Wells Fargo & Company Increases CoreWeave (NASDAQ:CRWV) Price Target to $105.00

Key Points

• Wells Fargo & Company has raised its price target for CoreWeave (NASDAQ:CRWV) from $60.00 to $105.00, indicating a potential downside of 29.41% from the current share price.
• CoreWeave recently reported a quarterly revenue of $1.21 million, marking a significant year-over-year increase of 206.7%, although it missed the earnings per share estimate by $0.07.
• The stock currently holds an average rating of "Hold" from analysts, with a consensus price target of $92.70 based on various ratings that include three sell, eighteen hold, and five buy ratings.

CoreWeave (NASDAQ:CRWV - Free Report) had its price objective lifted by Wells Fargo & Company from $60.00 to $105.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on CRWV. Arete Research upgraded CoreWeave to a "hold" rating in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft began coverage on CoreWeave in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $45.00 price target for the company. Morgan Stanley upped their target price on CoreWeave from $58.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. JMP Securities assumed coverage on CoreWeave in a research report on Thursday, May 22nd. They set a "market perform" rating on the stock. Finally, Citigroup upgraded CoreWeave from a "neutral" rating to a "buy" rating and set a $160.00 price objective for the company in a research note on Thursday, July 31st. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $99.80.

CoreWeave Trading Up 0.5%

NASDAQ:CRWV traded up $0.47 on Wednesday, hitting $99.97. The stock had a trading volume of 52,400,601 shares, compared to its average volume of 16,383,866. The business has a 50-day moving average price of $139.65. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.44 and a current ratio of 0.52. CoreWeave has a 52-week low of $33.51 and a 52-week high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.27) 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. CoreWeave's quarterly revenue was up 206.7% compared to the same quarter last year.

Institutional Investors Weigh In On CoreWeave

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