CoreWeave (NASDAQ:CRWV) Trading Up 2.1% – Should You Buy?

CoreWeave Inc. (NASDAQ:CRWV)’s share price rose 2.1% on Tuesday . The stock traded as high as $90.25 and last traded at $88.04. Approximately 13,214,021 shares changed hands during trading, a decline of 54% from the average session volume of 28,679,664 shares. The stock had previously closed at $86.25.

CoreWeave News Summary

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: CoreWeave is gaining attention after announcing or expanding relationships with Hudson River Trading and Rescale, potentially broadening demand for its AI cloud and simulation-computing services. CoreWeave Stock Trending as Company Lands Deals With Hudson River Trading, Rescale
• Positive Sentiment: Investor optimism around Nvidia’s strong results is supporting the neocloud sector. Nvidia reportedly is offering minimum-revenue guarantees to help providers secure financing, while sharing in rental revenue; such arrangements could improve CoreWeave’s access to capital and customer visibility. CRWV, NBIS, IREN Stocks Jump Overnight On Nvidia’s Blowout Q2
• Positive Sentiment: Truist sees substantial upside potential, citing a pricing development it believes the market has overlooked. CoreWeave’s underlying demand remains strong, with recent quarterly revenue up 112.5% year over year and earnings exceeding consensus expectations. Truist sees investment doubling potential in tumbling tech stock

Analyst Ratings Changes

CRWV has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of CoreWeave in a research report on Wednesday, August 12th. Wolfe Research reaffirmed an “outperform” rating on shares of CoreWeave in a research report on Monday, July 6th. Mizuho lifted their target price on CoreWeave from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. TD Cowen upgraded shares of CoreWeave to a “buy” rating in a research report on Wednesday, July 22nd. Finally, Citigroup raised their price objective on shares of CoreWeave from $142.00 to $159.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Twenty-one research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, CoreWeave presently has an average rating of “Moderate Buy” and an average price target of $141.90.

CoreWeave Stock Performance

The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market capitalization of $39.97 billion, a PE ratio of -23.93 and a beta of 7.44. The company’s fifty day simple moving average is $88.46 and its 200 day simple moving average is $94.89.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.52) by $0.38. The company had revenue of $2.58 billion for the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. The business’s revenue for the quarter was up 112.5% on a year-over-year basis. During the same period last year, the firm earned ($0.27) EPS. As a group, equities research analysts expect that CoreWeave Inc. will post -5.19 EPS for the current fiscal year.

Insider Activity

In related news, insider Brannin Mcbee sold 500 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $85.51, for a total transaction of $42,755.00. Following the sale, the insider directly owned 48,000 shares in the company, valued at approximately $4,104,480. The trade was a 1.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristen J. Mcveety sold 3,980 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $91.88, for a total value of $365,682.40. Following the sale, the insider directly owned 125,413 shares in the company, valued at $11,522,946.44. This trade represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 7,657,318 shares of company stock valued at $736,395,388. 24.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CoreWeave

A number of large investors have recently modified their holdings of CRWV. California State Teachers Retirement System increased its holdings in shares of CoreWeave by 12,886.8% in the second quarter. California State Teachers Retirement System now owns 41,559,344 shares of the company’s stock worth $4,136,817,000 after purchasing an additional 41,239,333 shares during the period. Vanguard Group Inc. raised its holdings in shares of CoreWeave by 275.6% during the 4th quarter. Vanguard Group Inc. now owns 27,920,979 shares of the company’s stock valued at $1,999,421,000 after buying an additional 20,487,478 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of CoreWeave by 446,194.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 17,851,760 shares of the company’s stock worth $2,443,013,000 after acquiring an additional 17,847,760 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of CoreWeave by 55.7% in the 2nd quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock valued at $1,084,117,000 after purchasing an additional 3,897,741 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of CoreWeave by 13.1% during the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after purchasing an additional 653,398 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.