Wells Fargo & Company Issues Positive Forecast for CoreWeave (NASDAQ:CRWV) Stock Price

Key Points

• Wells Fargo raised its price target on CoreWeave (CRWV) to $135 with an "overweight" rating, implying roughly a 19.9% upside, while the Street consensus remains a "Moderate Buy" with a $125.78 target.
• CoreWeave reported rapid revenue growth (revenue +110% to $1.57B) but remains unprofitable (Q EPS -$0.89, negative margins and ROE) and carries high leverage (debt/equity ~4.46).
• There has been heavy trading in the stock: insiders and major holders sold large blocks (insiders sold ~15.7M shares worth $1.62B this quarter), even as institutions like Vanguard dramatically increased their stakes.

CoreWeave (NASDAQ:CRWV - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $125.00 to $135.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 19.86% from the company's previous close.

Several other research analysts have also weighed in on CRWV. Sanford C. Bernstein increased their price objective on CoreWeave from $56.00 to $67.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 14th. Macquarie Infrastructure restated a "neutral" rating and issued a $115.00 target price on shares of CoreWeave in a research report on Tuesday, January 27th. Cantor Fitzgerald upped their price target on CoreWeave from $149.00 to $156.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Barclays increased their price target on CoreWeave from $90.00 to $106.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft raised CoreWeave from a "hold" rating to a "buy" rating and raised their price objective for the stock from $100.00 to $140.00 in a research report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, CoreWeave presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.78.

CoreWeave Trading Up 6.7%

CRWV stock traded up $7.11 during trading on Wednesday, reaching $112.64. 12,381,654 shares of the stock were exchanged, compared to its average volume of 27,599,066. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 4.46. The firm has a market capitalization of $49.89 billion and a price-to-earnings ratio of -35.12. The business has a 50 day moving average price of $91.22 and a 200-day moving average price of $92.86. CoreWeave has a 1 year low of $39.50 and a 1 year high of $187.00.

CoreWeave (NASDAQ:CRWV - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.28). The firm had revenue of $1.57 billion during the quarter. CoreWeave had a negative net margin of 22.75% and a negative return on equity of 33.82%. CoreWeave's revenue was up 110.4% on a year-over-year basis. On average, research analysts predict that CoreWeave will post -4.16 earnings per share for the current year.

Insiders Place Their Bets

In other CoreWeave news, insider Brian M. Venturo sold 1,125,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $80.86, for a total value of $90,967,500.00. Following the sale, the insider owned 285,327 shares of the company's stock, valued at $23,071,541.22. This trade represents a 79.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Magnetar Financial Llc sold 1,404,667 shares of CoreWeave stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $118.30, for a total value of $166,172,106.10. Following the completion of the transaction, the insider owned 282,570 shares of the company's stock, valued at $33,428,031. The trade was a 83.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,736,870 shares of company stock valued at $1,619,642,311.

Institutional Trading of CoreWeave

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in CoreWeave by 275.6% in the fourth quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company's stock worth $1,999,421,000 after acquiring an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of CoreWeave by 446,194.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company's stock valued at $2,443,013,000 after purchasing an additional 17,847,760 shares in the last quarter. Clear Street Group Inc. raised its holdings in shares of CoreWeave by 57.2% in the 4th quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company's stock valued at $333,260,000 after purchasing an additional 1,692,916 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of CoreWeave by 300.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,000,000 shares of the company's stock worth $286,440,000 after purchasing an additional 3,000,000 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of CoreWeave by 22,624.0% during the 4th quarter. Deutsche Bank AG now owns 3,812,856 shares of the company's stock worth $273,039,000 after purchasing an additional 3,796,077 shares during the last quarter.

CoreWeave Company Profile

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.