CoreWeave (NASDAQ:CRWV) Reaches New 1-Year High – Still a Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $175.38 and last traded at $171.93, with a volume of 32272933 shares. The stock had previously closed at $158.50.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Melius assumed coverage on shares of CoreWeave in a report on Tuesday, April 22nd. They issued a “hold” rating and a $40.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of CoreWeave from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, May 15th. Stifel Nicolaus initiated coverage on shares of CoreWeave in a research report on Tuesday, April 22nd. They set a “buy” rating and a $55.00 price target on the stock. Mizuho increased their price objective on shares of CoreWeave from $46.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Finally, Citigroup raised their price objective on CoreWeave from $43.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.00.

CoreWeave Stock Down 1.1%

The stock’s 50 day moving average is $89.11.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.67).

Insider Buying and Selling at CoreWeave

In other news, insider Kristen J. Mcveety sold 69,460 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $2,778,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nitin Agrawal sold 12,720 shares of CoreWeave stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $508,800.00. Following the sale, the chief financial officer now directly owns 231,811 shares of the company’s stock, valued at $9,272,440. The trade was a 5.20% decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On CoreWeave

An institutional investor recently bought a new position in CoreWeave stock. Gamco Investors INC. ET AL purchased a new position in shares of CoreWeave Inc. (NASDAQ:CRWV) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,575 shares of the company’s stock, valued at approximately $318,000.

CoreWeave Company Profile

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.