Bank of America Cuts CoreWeave (NASDAQ:CRWV) Price Target to $140.00

CoreWeave (NASDAQ:CRWV) had its target price lowered by Bank of America from $168.00 to $140.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently weighed in on the company. Seaport Res Ptn upgraded CoreWeave to a “hold” rating in a research note on Monday, September 15th. JMP Securities raised CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price objective on the stock in a research report on Tuesday, September 16th. Mizuho decreased their target price on CoreWeave from $150.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday. Macquarie lifted their target price on CoreWeave from $115.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Finally, Argus restated a “buy” rating and set a $200.00 price target on shares of CoreWeave in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, CoreWeave presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.62.

CoreWeave Trading Down 8.3%

Shares of CoreWeave stock opened at $78.34 on Tuesday. The company has a market capitalization of $38.27 billion and a P/E ratio of -68.72. The stock has a fifty day simple moving average of $123.05 and a 200 day simple moving average of $118.32. CoreWeave has a 12-month low of $33.51 and a 12-month high of $187.00. 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, topping analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. CoreWeave’s revenue was up 133.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Insider Activity

In related news, Director Jack D. Cogen sold 1,112,004 shares of the company’s stock in a transaction that occurred on 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 directly owned 12,329,676 shares in the company, valued at approximately $1,167,497,020.44. This represents a 8.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Magnetar Financial Llc sold 1,451,063 shares of CoreWeave stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $125.60, for a total transaction of $182,253,512.80. Following the completion of the transaction, the insider owned 363,631 shares of the company’s stock, valued at $45,672,053.60. This represents a 79.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,841,785 shares of company stock valued at $4,401,996,484 in the last quarter.

Institutional Trading of CoreWeave

A number of institutional investors have recently added to or reduced their stakes in CRWV. Family Legacy Financial Solutions LLC grew its holdings in CoreWeave by 166.7% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. HighMark Wealth Management LLC bought a new position in shares of CoreWeave in the third quarter valued at approximately $27,000. OLD Second National Bank of Aurora purchased a new position in CoreWeave during the third quarter valued at approximately $27,000. Princeton Global Asset Management LLC purchased a new position in CoreWeave during the third quarter valued at approximately $28,000. Finally, Aspect Partners LLC bought a new stake in CoreWeave during the 3rd quarter worth approximately $28,000.

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.