CoreWeave (NASDAQ:CRWV) Trading 8.1% Higher – Still a Buy?

Shares of CoreWeave Inc. (NASDAQ:CRWV) were up 8.1% during trading on Thursday . The company traded as high as $88.38 and last traded at $85.75. Approximately 29,126,878 shares changed hands during trading, an increase of 20% from the average daily volume of 24,202,363 shares. The stock had previously closed at $79.36.

Analyst Ratings Changes

Several brokerages have weighed in on CRWV. Morgan Stanley increased their target price on shares of CoreWeave from $91.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of CoreWeave in a report on Monday. Arete Research upgraded shares of CoreWeave from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Barclays dropped their price objective on CoreWeave from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $174.00 target price on shares of CoreWeave in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.14.

CoreWeave Stock Up 8.1%

The company has a market capitalization of $33.13 billion and a price-to-earnings ratio of -59.14. 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 firm’s 50 day simple moving average is $111.33 and its 200-day simple moving average is $120.68.

CoreWeave (NASDAQ:CRWV) last issued its earnings results on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted ($1.82) earnings per share. The business’s quarterly revenue was up 133.7% on a year-over-year basis.

Insider Buying and Selling

In other CoreWeave news, insider Brian M. Venturo sold 65,606 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $74.95, for a total value of $4,917,169.70. Following the sale, the insider owned 182,679 shares of the company’s stock, valued at $13,691,791.05. This represents a 26.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nitin Agrawal sold 3,640 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $70.27, for a total transaction of $255,782.80. Following the transaction, the chief financial officer directly owned 147,519 shares of the company’s stock, valued at approximately $10,366,160.13. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,008,034 shares of company stock valued at $3,929,020,631 in the last three months.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in CoreWeave by 190.7% during the third quarter. Allworth Financial LP now owns 4,358 shares of the company’s stock worth $596,000 after buying an additional 2,859 shares during the period. IFP Advisors Inc grew its stake in shares of CoreWeave by 1,009.7% during the 3rd quarter. IFP Advisors Inc now owns 8,223 shares of the company’s stock valued at $1,125,000 after buying an additional 7,482 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of CoreWeave during the 3rd quarter worth $27,000. CIBC Private Wealth Group LLC increased its holdings in shares of CoreWeave by 228.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 23,920 shares of the company’s stock worth $3,273,000 after buying an additional 16,643 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of CoreWeave in the 3rd quarter worth $3,670,000.

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.