Northland Securities Forecasts Strong Price Appreciation for CoreWeave (NASDAQ:CRWV) Stock
Northland Securities has raised its price target for CoreWeave (NASDAQ:CRWV) from $85.00 to $165.00, maintaining an "outperform" rating. This suggests a potential upside of 34.05% from the current price. Other analysts have varied ratings, with a consensus rating of "Hold" and an average target price of $83.25. CoreWeave's stock recently traded at $123.09, down $9.12, with a 1-year range of $33.51 to $187.00. The company reported a loss of ($0.83) per share in its last earnings announcement.
CoreWeave (NASDAQ:CRWV - Get Free Report) had its price objective hoisted by investment analysts at Northland Securities from $85.00 to $165.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Northland Securities' price target indicates a potential upside of 34.05% from the company's current price.
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Other equities research analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on CoreWeave from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 15th. Arete initiated coverage on CoreWeave in a research report on Thursday, June 5th. They set a "neutral" rating and a $130.00 price target on the stock. Citizens Jmp raised CoreWeave to a "hold" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group lifted their target price on CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Bank of America lowered CoreWeave from a "buy" rating to a "neutral" rating in a report on Monday, June 16th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $83.25.
Read Our Latest Report on CRWV
CoreWeave Stock Performance
- CoreWeave's $9 Billion Power Play for Core Scientific
CoreWeave stock traded down $9.12 during mid-day trading on Friday, hitting $123.09. 9,976,237 shares of the company were exchanged, compared to its average volume of 20,014,865. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.44 and a quick ratio of 0.44. The business has a fifty day moving average of $133.18. CoreWeave has a 1-year low of $33.51 and a 1-year high of $187.00.
CoreWeave (NASDAQ:CRWV - Get Free Report) last announced 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).
Hedge Funds Weigh In On CoreWeave
- 3 Stocks With Near-Unanimous Buys That Could Rally Higher
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cisco Systems Inc. acquired a new stake in CoreWeave during the second quarter worth approximately $173,493,000. Sivia Capital Partners LLC bought a new position in shares of CoreWeave in the second quarter valued at approximately $39,824,000. Renaissance Capital LLC purchased a new position in CoreWeave in the second quarter worth $5,131,000. Goldman Sachs Group Inc. purchased a new stake in shares of CoreWeave during the 1st quarter valued at $963,000. Finally, Floyd Financial Group LLC purchased a new stake in shares of CoreWeave during the 2nd quarter worth approximately $2,714,000.
About CoreWeave
(Get Free Report)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.
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