CoreWeave (NASDAQ:CRWV) Trading Down 1.9% – Time to Sell?

CoreWeave Inc. (NASDAQ:CRWV)’s share price traded down 1.9% during trading on Thursday . The company traded as low as $80.55 and last traded at $81.10. Approximately 17,876,034 shares changed hands during trading, a decline of 37% from the average daily volume of 28,216,582 shares. The stock had previously closed at $82.64.

Key CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: Robert W. Baird upgraded CoreWeave to “strong-buy,” adding to the recent stream of favorable analyst calls that may support sentiment. Read More
• Positive Sentiment: Truist also raised CoreWeave to buy, and the stock has been reacting positively to the fresh endorsement as investors focus on its AI infrastructure growth story. CoreWeave Jumps 6% on Truist Buy Upgrade, Pulling Ahead of Cloudflare, Snowflake, Oracle
• Positive Sentiment: Baird initiated CoreWeave with an outperform rating, while another recent article highlighted renewed Wall Street optimism and a new positive rating after a weak stretch for the shares. CoreWeave (CRWV) Is Chasing 108% Q2 Revenue Growth With A Big Power Ramp
• Neutral Sentiment: CoreWeave’s CFO sold about $5.5 million of company shares, which can raise some investor caution but does not necessarily signal a change in the company’s fundamentals. CoreWeave’s CFO Sold Company Shares for $5.5 Million. What Does That Mean for Investors?
• Neutral Sentiment: Barclays reportedly lowered its expectations for CoreWeave’s stock price, providing a counterpoint to the bullish ratings and suggesting some analysts see more limited upside. Barclays Has Lowered Expectations for CoreWeave (NASDAQ:CRWV) Stock Price

Analysts Set New Price Targets

CRWV has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of CoreWeave from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday. Raymond James Financial downgraded CoreWeave from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. TD Cowen upgraded CoreWeave to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald began coverage on CoreWeave in a report on Wednesday. They issued an “overweight” rating on the stock. Finally, Oppenheimer lifted their price objective on CoreWeave from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

CoreWeave Trading Down 1.9%

The firm has a market cap of $36.30 billion, a price-to-earnings ratio of -26.08 and a beta of 7.17. The business has a 50 day moving average price of $98.41 and a 200-day moving average price of $95.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 3.68.

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

Insider Transactions at CoreWeave

In other news, insider Brian M. Venturo sold 76,912 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $86.99, for a total value of $6,690,574.88. Following the completion of the sale, the insider directly owned 283,985 shares in the company, valued at approximately $24,703,855.15. The trade was a 21.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael N. Intrator sold 61,797 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $86.94, for a total value of $5,372,631.18. Following the completion of the sale, the chief executive officer directly owned 2,876,815 shares in the company, valued at approximately $250,110,296.10. This trade represents a 2.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 17,072,869 shares of company stock valued at $1,983,274,420. Insiders own 24.20% of the company’s stock.

Hedge Funds Weigh In On CoreWeave

Institutional investors and hedge funds have recently bought and sold shares of the stock. Haven Capital Group Inc. acquired a new position in shares of CoreWeave in the 2nd quarter worth approximately $242,000. Dagco Inc. acquired a new stake in CoreWeave during the second quarter valued at approximately $258,000. Fiduciary Financial Group LLC acquired a new stake in CoreWeave during the second quarter valued at approximately $7,298,000. E. Ohman J or Asset Management AB grew its position in CoreWeave by 48.5% in the second quarter. E. Ohman J or Asset Management AB now owns 7,040 shares of the company’s stock worth $701,000 after buying an additional 2,300 shares during the last quarter. Finally, Bay Rivers Group acquired a new stake in shares of CoreWeave during the 2nd quarter valued at $255,000.

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.