CoreWeave (NASDAQ:CRWV) Stock Price Target Cut by DA Davidson

CoreWeave (NASDAQ:CRWV) had its price target reduced by equities research analysts at DA Davidson from $100.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson‘s price objective would suggest a potential downside of 22.80% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. BNP Paribas Exane reissued an “outperform” rating and issued a $117.00 price objective on shares of CoreWeave in a research report on Monday, October 19th. Btg Pactual set a $125.00 target price on CoreWeave in a report on Monday, September 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of CoreWeave in a research report on Monday, September 21st. Piper Sandler cut their price target on shares of CoreWeave from $153.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Finally, Rothschild & Co Redburn started coverage on shares of CoreWeave in a report on Monday, September 21st. They issued a “sell” rating and a $54.00 price target on the stock. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.67.

CoreWeave Price Performance

CRWV traded up $9.56 during trading on Wednesday, reaching $58.29. 46,441,338 shares of the stock were exchanged, compared to its average volume of 32,411,295. CoreWeave has a 1 year low of $40.58 and a 1 year high of $138.25. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.46 and a quick ratio of 0.46. The business’s 50 day moving average price is $74.13 and its two-hundred day moving average price is $89.44. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of -15.96 and a beta of 7.71.

CoreWeave (NASDAQ:CRWV) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.38. The firm had revenue of $2.58 billion for the quarter. CoreWeave had a negative net margin of 25.41% and a negative return on equity of 47.95%. CoreWeave’s revenue was up 112.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) earnings per share. As a group, equities research analysts anticipate that CoreWeave will post -4.99 earnings per share for the current year.

Insider Activity at CoreWeave

In other news, CRO Jonathan Jones sold 21,569 shares of CoreWeave stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $77.42, for a total transaction of $1,669,871.98. Following the sale, the executive directly owned 5,392 shares of the company’s stock, valued at approximately $417,448.64. The trade was a 80.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeff Baker sold 6,670 shares of CoreWeave stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $61.16, for a total value of $407,937.20. Following the sale, the insider owned 14,170 shares in the company, valued at $866,637.20. This represents a 32.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 3,727,018 shares of company stock valued at $337,495,407. 24.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CoreWeave

A number of hedge funds have recently added to or reduced their stakes in CRWV. Alyeska Investment Group L.P. raised its holdings in shares of CoreWeave by 55.7% during the second quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock worth $1,084,117,000 after purchasing an additional 3,897,741 shares during the period. State Street Corp boosted its holdings in shares of CoreWeave by 139.7% in the 2nd quarter. State Street Corp now owns 7,058,846 shares of the company’s stock valued at $702,638,000 after buying an additional 4,113,873 shares during the period. Bank of America Corp DE boosted its holdings in shares of CoreWeave by 13.1% in the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock valued at $437,870,000 after buying an additional 653,398 shares during the period. Amundi grew its holdings in shares of CoreWeave by 266.2% during the first quarter. Amundi now owns 3,284,121 shares of the company’s stock valued at $254,421,000 after purchasing an additional 2,387,337 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in CoreWeave by 32.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,909 shares of the company’s stock worth $199,410,000 after buying an additional 555,128 shares during the last quarter.

Trending Headlines about CoreWeave

Here are a few of the latest headlines about CRWV:

• Positive Sentiment: Q3 results and guidance beat expectations: Revenue rose 168% year over year to $3.66 billion, and CoreWeave raised its full-year revenue outlook to about $13.3 billion. Its roughly $132.5 billion backlog signals significant demand ahead. Reuters earnings report
• Positive Sentiment: New product broadens its platform: CoreWeave launched a managed PostgreSQL database service within its cloud platform, giving AI customers another tool alongside GPU training and inference services. CoreWeave Database announcement
• Neutral Sentiment: Analysts remain divided: Truist, Cantor Fitzgerald and Stifel lowered their price targets, while keeping Buy, Overweight or Hold ratings. Needham reaffirmed Hold, reflecting caution even as some analysts continue to see upside. Analyst target report

CoreWeave Company Profile

CoreWeave is a cloud computing company that provides infrastructure for artificial intelligence, machine learning, and other compute-intensive workloads. Its services include access to graphics processing units (GPUs), cloud storage and networking, and software tools for deploying and managing workloads. The company was founded in 2017 as a cryptocurrency mining business and later shifted its focus to cloud computing. CoreWeave is headquartered in Livingston, New Jersey, and operates data center infrastructure in the United States and Europe, serving customers that need large-scale computing resources.