CoreWeave (NASDAQ:CRWV) Shares Gap Up – Should You Buy?

Shares of CoreWeave Inc. (NASDAQ:CRWV) gapped up before the market opened on Thursday . The stock had previously closed at $74.92, but opened at $82.62. CoreWeave shares last traded at $80.11, with a volume of 11,478,994 shares trading hands.

Analyst Ratings Changes

CRWV has been the subject of several research analyst reports. Jefferies Financial Group reduced their price target on shares of CoreWeave from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Loop Capital reduced their target price on CoreWeave from $165.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of CoreWeave in a research report on Wednesday, August 13th. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of CoreWeave in a research report on Wednesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $174.00 price objective on shares of CoreWeave in a research report on Wednesday, November 5th. Two investment 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.14.

CoreWeave Price Performance

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.66. The stock’s 50 day moving average price is $119.43 and its two-hundred day moving average price is $119.50. The firm has a market capitalization of $27.69 billion and a price-to-earnings ratio of -49.41.

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

Insider Buying and Selling

In other CoreWeave news, Director Jack D. Cogen sold 1,112,004 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $94.69, for a total value of $105,295,658.76. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the transaction, the insider owned 363,631 shares in the company, valued at approximately $45,672,053.60. This trade represents a 79.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,685,533 shares of company stock worth $4,289,381,690 in the last 90 days.

Hedge Funds Weigh In On CoreWeave

Hedge funds have recently bought and sold shares of the business. Nvidia Corp lifted its position in shares of CoreWeave by 0.4% in the second quarter. Nvidia Corp now owns 24,277,573 shares of the company’s stock worth $3,958,701,000 after buying an additional 95,113 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of CoreWeave by 446,194.0% during 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 acquiring an additional 17,847,760 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CoreWeave by 109.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,433,501 shares of the company’s stock valued at $1,017,275,000 after acquiring an additional 3,888,164 shares in the last quarter. Invesco Ltd. lifted its holdings in CoreWeave by 55,329.7% in the 3rd quarter. Invesco Ltd. now owns 2,999,300 shares of the company’s stock worth $410,454,000 after purchasing an additional 2,993,889 shares during the last quarter. Finally, Clear Street Group Inc. acquired a new stake in CoreWeave in the 3rd quarter worth approximately $405,199,000.

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.