DA Davidson Reiterates Underperform Rating for CoreWeave (NASDAQ:CRWV)

CoreWeave (NASDAQ:CRWV)‘s stock had its “underperform” rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $36.00 target price on the stock. DA Davidson’s price objective would suggest a potential downside of 57.86% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Bank of America decreased their price objective on CoreWeave from $168.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $174.00 price target on shares of CoreWeave in a research note on Wednesday, November 5th. HSBC started coverage on shares of CoreWeave in a report on Wednesday, July 16th. They set a “reduce” rating and a $32.00 price target for the company. Barclays raised their price objective on shares of CoreWeave from $100.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company upgraded shares of CoreWeave from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $170.00 in a research note on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.86.

CoreWeave Stock Performance

NASDAQ:CRWV opened at $85.43 on Tuesday. CoreWeave has a 52 week low of $33.51 and a 52 week high of $187.00. The company has a fifty day simple moving average of $123.24 and a two-hundred day simple moving average of $118.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. The company has a market cap of $41.74 billion and a price-to-earnings ratio of -74.94.

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

Insider Activity at CoreWeave

In other news, CEO Michael N. Intrator sold 32,455 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $113.97, for a total value of $3,698,896.35. Following the completion of the sale, the chief executive officer directly owned 6,991,055 shares of the company’s stock, valued at approximately $796,770,538.35. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Chen Goldberg sold 19,180 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $118.30, for a total value of $2,268,994.00. Following the transaction, the senior vice president owned 37,084 shares in the company, valued at $4,387,037.20. This represents a 34.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,743,427 shares of company stock valued at $4,592,624,537 in the last ninety days.

Institutional Investors Weigh In On CoreWeave

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRWV. Apexium Financial LP acquired a new stake in shares of CoreWeave during the 2nd quarter valued at approximately $1,044,000. Chung Wu Investment Group LLC purchased a new position in CoreWeave in the 2nd quarter valued at approximately $755,000. Cisco Systems Inc. acquired a new position in CoreWeave during the second quarter worth $173,493,000. Gamco Investors INC. ET AL acquired a new position in CoreWeave during the first quarter worth $318,000. Finally, Rockline Wealth Management LLC purchased a new stake in CoreWeave during the second quarter worth $951,000.

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.