CoreWeave’s (CRWV) Hold Rating Reiterated at Needham & Company LLC

CoreWeave (NASDAQ:CRWV)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

Several other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on CoreWeave in a research report on Tuesday, April 22nd. They set a “hold” rating and a $45.00 price objective for the company. Northland Capmk upgraded CoreWeave to a “strong-buy” rating in a research report on Tuesday, May 13th. Macquarie upped their price objective on CoreWeave from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Melius started coverage on CoreWeave in a research report on Tuesday, April 22nd. They set a “hold” rating and a $40.00 price objective for the company. Finally, JMP Securities started coverage on CoreWeave in a research report on Thursday, May 22nd. They set a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.80.

CoreWeave Price Performance

CRWV opened at $99.50 on Wednesday. CoreWeave has a 52-week low of $33.51 and a 52-week high of $187.00. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.60. The stock’s fifty day moving average is $140.45.

CoreWeave (NASDAQ:CRWV) last released its earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The firm had revenue of $1.21 million during the quarter. The company’s revenue for the quarter was up 206.7% compared to the same quarter last year.

Hedge Funds Weigh In On CoreWeave

Hedge funds have recently made changes to their positions in the stock. Chelsea Counsel Co. bought a new position in shares of CoreWeave during the second quarter worth about $33,000. Archer Investment Corp bought a new position in shares of CoreWeave during the second quarter worth about $34,000. Chilton Capital Management LLC bought a new position in shares of CoreWeave during the second quarter worth about $39,000. Montag A & Associates Inc. acquired a new stake in CoreWeave during the second quarter worth approximately $49,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in CoreWeave during the second quarter worth approximately $47,000.

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.