CoreWeave (NASDAQ:CRWV) Trading 2.4% Higher After Earnings Beat

CoreWeave Inc. (NASDAQ:CRWV)’s share price rose 2.4% during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $93.60 and last traded at $90.32. Approximately 34,085,183 shares traded hands during trading, an increase of 21% from the average daily volume of 28,173,967 shares. The stock had previously closed at $88.19.

The company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.20. CoreWeave had a negative net margin of 25.57% and a negative return on equity of 43.07%.

More CoreWeave News

Here are the key news stories impacting CoreWeave this week:

• Positive Sentiment: JPMorgan raised its price target for CoreWeave (CRWV) from $105 to $110, implying substantial potential upside, although it retained a neutral rating. Benzinga
• Positive Sentiment: Jefferies maintained a Buy rating and a $150 price target, citing strong demand for AI compute. CoreWeave’s new $2.6 billion financing deal also supports continued data-center expansion, though profitability is not expected to materially improve for several months. CoreWeave earnings: Jefferies eying founder selling, not profit, as the next catalyst
• Positive Sentiment: A deal with Solidigm gives CoreWeave priority access to solid-state drives, potentially easing storage constraints and improving its ability to scale AI-cloud capacity. CRWV’s Solidigm Deal
• Positive Sentiment: Market commentator Jim Cramer identified CoreWeave as a preferred AI-infrastructure investment over IREN, describing it as cheaper and better positioned. Jim Cramer Picks CoreWeave as the Better Buy Over IREN

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRWV. Evercore restated an “outperform” rating and issued a $150.00 target price on shares of CoreWeave in a research report on Wednesday, April 15th. Raymond James Financial cut CoreWeave from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Piper Sandler assumed coverage on CoreWeave in a research report on Monday, August 3rd. They set an “overweight” rating and a $151.00 price objective for the company. BTIG Research started coverage on shares of CoreWeave in a report on Wednesday, July 22nd. They issued a “buy” rating on the stock. Finally, Mizuho decreased their target price on shares of CoreWeave from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.82.

Insider Activity at CoreWeave

In related news, CEO Michael N. Intrator sold 278,560 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $97.43, for a total transaction of $27,140,100.80. Following the completion of the transaction, the chief executive officer directly owned 3,138,612 shares of the company’s stock, valued at $305,794,967.16. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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, Director Jack D. Cogen sold 986,540 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $107.80, for a total value of $106,349,012.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,036,105 shares of company stock worth $896,789,395. Company insiders own 24.20% of the company’s stock.

Institutional Trading of CoreWeave

Several hedge funds have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new position in CoreWeave in the third quarter worth approximately $34,000. Essential Partners LLC purchased a new stake in shares of CoreWeave in the 2nd quarter valued at approximately $30,000. Cornerstone Planning Group LLC increased its position in shares of CoreWeave by 272.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of CoreWeave by 45.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 385 shares of the company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter. Finally, Greenline Wealth Management LLC acquired a new stake in shares of CoreWeave in the 4th quarter valued at $28,000.

CoreWeave Trading Up 2.4%

The firm has a market capitalization of $40.42 billion, a PE ratio of -29.04 and a beta of 7.45. The company’s 50-day moving average price is $91.08 and its 200-day moving average price is $94.76. The company has a debt-to-equity ratio of 3.68, a quick ratio of 0.31 and a current ratio of 0.31.

CoreWeave Company Profile

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.