CoreWeave (NASDAQ:CRWV) Shares Down 8.3% Following Analyst Downgrade

CoreWeave Inc. (NASDAQ:CRWV)’s share price was down 8.3% during trading on Thursday after Loop Capital lowered their price target on the stock from $165.00 to $120.00. Loop Capital currently has a buy rating on the stock. CoreWeave traded as low as $77.25 and last traded at $78.34. Approximately 42,465,381 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 23,655,775 shares. The stock had previously closed at $85.43.

CRWV has been the topic of several other research reports. Seaport Res Ptn raised CoreWeave to a “hold” rating in a report on Monday, September 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $174.00 price objective on shares of CoreWeave in a research report on Wednesday, November 5th. Northland Securities boosted their target price on CoreWeave from $85.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Bank of America lowered their target price on CoreWeave from $168.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Citizens Jmp upgraded shares of CoreWeave from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $128.62.

Insider Activity at CoreWeave

In other CoreWeave news, major shareholder Magnetar Financial Llc sold 1,451,063 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $125.60, for a total value of $182,253,512.80. Following the transaction, the insider directly owned 363,631 shares in the company, valued at $45,672,053.60. This represents a 79.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack D. Cogen sold 1,112,004 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $94.69, for a total transaction of $105,295,658.76. Following the sale, the director owned 12,329,676 shares of the company’s stock, valued at approximately $1,167,497,020.44. The trade was a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 36,743,427 shares of company stock valued at $4,592,624,537.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Chelsea Counsel Co. purchased a new stake in shares of CoreWeave during the second quarter valued at $33,000. Family Legacy Financial Solutions LLC grew its position in shares of CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 125 shares during the last quarter. HighMark Wealth Management LLC purchased a new stake in shares of CoreWeave during the 3rd quarter valued at $27,000. OLD Second National Bank of Aurora acquired a new position in shares of CoreWeave during the third quarter valued at about $27,000. Finally, Aspect Partners LLC acquired a new position in shares of CoreWeave in the 3rd quarter valued at $28,000.

CoreWeave Stock Down 8.3%

The business’s 50-day simple moving average is $123.24 and its 200-day simple moving average is $118.60. The company has a market capitalization of $38.27 billion and a PE ratio of -68.72. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.79.

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

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.