CoreWeave (NASDAQ:CRWV) Trading 3.5% Higher – Here’s Why

Shares of CoreWeave Inc. (NASDAQ:CRWV) were up 3.5% during trading on Friday . The stock traded as high as $72.85 and last traded at $71.65. Approximately 38,684,788 shares were traded during trading, an increase of 60% from the average daily volume of 24,158,928 shares. The stock had previously closed at $69.21.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRWV shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $110.00 price target on shares of CoreWeave in a report on Tuesday, November 11th. Raymond James Financial assumed coverage on CoreWeave in a research report on Monday, September 15th. They issued an “outperform” rating and a $130.00 target price on the stock. Melius Research set a $140.00 target price on CoreWeave in a research note on Tuesday, November 11th. Seaport Res Ptn upgraded CoreWeave to a “hold” rating in a research note on Monday, September 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price objective on shares of CoreWeave in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.14.

CoreWeave Trading Up 3.5%

The stock has a market capitalization of $27.69 billion and a P/E ratio of -49.41. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.66. The business has a 50-day moving average price of $120.23 and a two-hundred day moving average price of $119.36.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. The firm’s revenue for the quarter was up 133.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.82) EPS. CoreWeave has set its FY 2025 guidance at EPS.

Insider Activity at CoreWeave

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the completion of the transaction, the insider directly owned 363,631 shares in the company, valued at $45,672,053.60. The trade was a 79.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack D. Cogen sold 1,112,004 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $94.69, for a total value of $105,295,658.76. Following the sale, the director owned 12,329,676 shares of the company’s stock, valued at $1,167,497,020.44. The trade was a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,595,006 shares of company stock valued at $4,282,555,133 over the last 90 days.

Hedge Funds Weigh In On CoreWeave

A number of institutional investors have recently modified their holdings of the business. Family Legacy Financial Solutions LLC lifted its position in shares of CoreWeave by 166.7% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 125 shares during the last quarter. HighMark Wealth Management LLC acquired a new position in CoreWeave during the third quarter worth about $27,000. OLD Second National Bank of Aurora bought a new position in shares of CoreWeave in the third quarter worth about $27,000. Princeton Global Asset Management LLC acquired a new stake in shares of CoreWeave in the 3rd quarter valued at approximately $28,000. Finally, Aspect Partners LLC acquired a new stake in shares of CoreWeave in the 3rd quarter valued at approximately $28,000.

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.