CoreWeave (NASDAQ:CRWV) Shares Down 6.3% – Should You Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s stock price dropped 6.3% on Monday . The company traded as low as $82.72 and last traded at $83.31. 18,459,053 shares changed hands during trading, a decline of 35% from the average session volume of 28,391,191 shares. The stock had previously closed at $88.88.

Wall Street Analysts Forecast Growth

CRWV has been the subject of several research reports. DA Davidson reissued a “neutral” rating and issued a $100.00 price target (down from $175.00) on shares of CoreWeave in a research report on Monday, May 18th. Wolfe Research reiterated an “outperform” rating on shares of CoreWeave in a report on Monday, July 6th. Mizuho boosted their target price on shares of CoreWeave from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Oppenheimer upped their target price on shares of CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane initiated coverage on shares of CoreWeave in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $192.00 price target on the stock. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.73.

CoreWeave Stock Performance

The company has a debt-to-equity ratio of 3.68, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day moving average price is $105.06 and its 200 day moving average price is $95.35. The company has a market cap of $37.30 billion, a PE ratio of -26.80 and a beta of 7.17.

CoreWeave (NASDAQ:CRWV) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The firm had revenue of $2.08 billion for the quarter. CoreWeave had a negative return on equity of 43.07% and a negative net margin of 25.57%.The business’s revenue was up 111.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.60) EPS. On average, equities research analysts predict that CoreWeave Inc. will post -4.57 earnings per share for the current year.

Insider Buying and Selling at CoreWeave

In related news, Director Jack D. Cogen sold 986,540 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $107.80, for a total value of $106,349,012.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian M. Venturo sold 1,125,000 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $115.93, for a total transaction of $130,421,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 24,941,871 shares of company stock worth $2,920,484,187 in the last quarter. 24.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CoreWeave

Large investors have recently modified their holdings of the stock. 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 valued at $1,999,421,000 after purchasing an additional 20,487,478 shares during the last quarter. Proficio Capital Partners LLC increased its position in CoreWeave by 446,194.0% in the third quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after buying an additional 17,847,760 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CoreWeave by 13.1% in the first quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after buying an additional 653,398 shares during the period. Clear Street Group Inc. raised its stake in shares of CoreWeave by 57.2% in the fourth quarter. Clear Street Group Inc. now owns 4,653,815 shares of the company’s stock valued at $333,260,000 after buying an additional 1,692,916 shares during the period. Finally, 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 valued at $286,440,000 after buying an additional 3,000,000 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.