CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) Reaches New 52-Week High – Still a Buy?

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $117.50 and last traded at $113.75, with a volume of 8779846 shares changing hands. The stock had previously closed at $102.74.

Analysts Set New Price Targets

A number of research analysts recently commented on CRWV shares. Citigroup upped their price target on shares of CoreWeave, Inc. Class A Common Stock from $43.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, May 21st. Morgan Stanley raised their target price on shares of CoreWeave, Inc. Class A Common Stock from $46.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. Citizens Jmp raised shares of CoreWeave, Inc. Class A Common Stock to a “hold” rating in a report on Thursday, May 22nd. Stifel Nicolaus began coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a “buy” rating and a $55.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CoreWeave, Inc. Class A Common Stock in a report on Tuesday, April 22nd. They set a “hold” rating and a $45.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.94.

CoreWeave, Inc. Class A Common Stock Trading Down 6.3%

The business’s 50-day moving average is $58.00.

CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) last issued its earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.67).

Insider Transactions at CoreWeave, Inc. Class A Common Stock

In other news, Director Jack D. Cogen sold 220,760 shares of CoreWeave, Inc. Class A Common Stock stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $47.56, for a total transaction of $10,499,345.60. Following the transaction, the director now owns 126,220 shares in the company, valued at approximately $6,003,023.20. The trade was a 63.62% 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 12,720 shares of CoreWeave, Inc. Class A Common Stock stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $508,800.00. Following the transaction, the chief financial officer now owns 231,811 shares in the company, valued at approximately $9,272,440. This trade represents a 5.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,940 shares of company stock worth $13,786,546.

Hedge Funds Weigh In On CoreWeave, Inc. Class A Common Stock

A hedge fund recently bought a new stake in CoreWeave, Inc. Class A Common Stock stock. Gamco Investors INC. ET AL bought a new stake in CoreWeave, Inc. Class A Common Stock (NASDAQ:CRWV) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,575 shares of the company’s stock, valued at approximately $318,000.

About CoreWeave, Inc. Class A Common Stock

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.