Macquarie Issues Pessimistic Forecast for CoreWeave (NASDAQ:CRWV) Stock Price

CoreWeave (NASDAQ:CRWV) had its price objective cut by equities researchers at Macquarie from $140.00 to $115.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Macquarie’s price objective indicates a potential upside of 26.22% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Mizuho cut their target price on CoreWeave from $150.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday. JMP Securities raised CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 price target on the stock in a research note on Tuesday, September 16th. Evercore ISI cut their price objective on CoreWeave from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday. Hsbc Global Res upgraded shares of CoreWeave to a “moderate sell” rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company raised shares of CoreWeave from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $105.00 to $170.00 in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, CoreWeave currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.89.

CoreWeave Trading Down 13.7%

NASDAQ:CRWV traded down $14.50 on Tuesday, hitting $91.11. The stock had a trading volume of 41,454,674 shares, compared to its average volume of 23,192,111. The company has a fifty day moving average price of $123.42 and a two-hundred day moving average price of $118.50. CoreWeave has a 1-year low of $33.51 and a 1-year high of $187.00. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.79. The stock has a market cap of $44.51 billion and a price-to-earnings ratio of -79.92.

CoreWeave (NASDAQ:CRWV) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). The firm had revenue of $1.21 million for the quarter. The company’s revenue for the quarter was up 206.7% on a year-over-year basis.

Insider Transactions at CoreWeave

In related news, insider Brian M. Venturo sold 29,916 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $127.94, for a total transaction of $3,827,453.04. Following the completion of the transaction, the insider directly owned 215,486 shares in the company, valued at $27,569,278.84. This trade represents a 12.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael N. Intrator sold 32,455 shares of CoreWeave stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $113.97, for a total value of $3,698,896.35. Following the completion of the transaction, the chief executive officer directly owned 6,991,055 shares of the company’s stock, valued at approximately $796,770,538.35. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,743,427 shares of company stock worth $4,592,624,537 over the last quarter.

Institutional Investors Weigh In On CoreWeave

A number of hedge funds have recently added to or reduced their stakes in CRWV. Gamco Investors INC. ET AL acquired a new position in shares of CoreWeave in the first quarter worth $318,000. Goldman Sachs Group Inc. purchased a new position in CoreWeave in the first quarter valued at $963,000. Howard Financial Services LTD. acquired a new position in CoreWeave during the 2nd quarter worth $489,000. McAlister Sweet & Associates Inc. acquired a new position in CoreWeave during the 2nd quarter worth $277,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in CoreWeave during the 2nd quarter worth about $117,000.

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.