Wells Fargo & Company Lowers CoreWeave (NASDAQ:CRWV) Price Target to $150.00

CoreWeave (NASDAQ:CRWV - Get Free Report) had its target price cut by stock analysts at Wells Fargo & Company from $170.00 to $150.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 70.47% from the company's previous close.

• CoreWeave's Guidance Cut: A Buying Opportunity in Disguise?

A number of other brokerages have also recently weighed in on CRWV. Citigroup raised shares of CoreWeave from a "neutral" rating to a "buy" rating and set a $160.00 price objective for the company in a research note on Thursday, July 31st. Citizens Jmp upgraded CoreWeave from a "market perform" rating to an "outperform" rating and set a $180.00 target price for the company in a research note on Tuesday, September 16th. Hsbc Global Res upgraded CoreWeave to a "moderate sell" rating in a research note on Thursday, July 17th. HSBC started coverage on shares of CoreWeave in a research report on Wednesday, July 16th. They issued a "reduce" rating and a $32.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of CoreWeave from $91.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $130.18.

Read Our Latest Stock Report on CRWV

CoreWeave Price Performance

• CrowdStrike Partners With CoreWeave But Investors Sell the News

Shares of CoreWeave stock traded down $0.40 on Wednesday, hitting $87.99. 15,167,579 shares of the company were exchanged, compared to its average volume of 23,369,205. 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 capitalization of $42.99 billion and a price-to-earnings ratio of -77.18. The company has a 50-day moving average price of $123.33 and a 200 day moving average price of $118.83.

CoreWeave (NASDAQ:CRWV - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. CoreWeave's revenue for the quarter was up 133.7% on a year-over-year basis. During the same period last year, the firm posted ($1.82) earnings per share. CoreWeave has set its FY 2025 guidance at EPS.

Insider Buying and Selling

• Oracle’s AI Profits Look Slim—Are NBIS and CRWV at Risk Too?

In other CoreWeave news, insider Brian M. Venturo sold 29,916 shares of the business's stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $127.94, for a total value of $3,827,453.04. Following the transaction, the insider owned 215,486 shares of the company's stock, valued at approximately $27,569,278.84. The trade was a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Magnetar Financial Llc sold 7,688 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $134.94, for a total transaction of $1,037,418.72. Following the sale, the insider directly owned 299,512 shares in the company, valued at $40,416,149.28. This trade represents a 2.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 36,743,427 shares of company stock valued at $4,592,624,537.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Chelsea Counsel Co. acquired a new stake in shares of CoreWeave in the 2nd quarter valued at $33,000. Family Legacy Financial Solutions LLC grew its position in shares of CoreWeave by 166.7% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company's stock valued at $27,000 after buying an additional 125 shares during the last quarter. HighMark Wealth Management LLC bought a new position in CoreWeave during the 3rd quarter worth approximately $27,000. OLD Second National Bank of Aurora bought a new position in shares of CoreWeave in the 3rd quarter worth about $27,000. Finally, Aspect Partners LLC acquired a new stake in shares of CoreWeave during the 3rd quarter worth approximately $28,000.

CoreWeave Company Profile

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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