TLDR
- CoreWeave stock increased 1.8% Thursday, closing at $141.74 with volume up 55% to 35.8 million shares.
- Partnership announced with Nvidia-backed Poolside to construct a major AI data center facility.
- Analysts rate the stock “Moderate Buy” with price targets ranging from $32 to $165, averaging $127.64.
- Insiders sold $3.46 billion in shares over 90 days, including Director Jack D. Cogen’s $105.3 million sale.
- Q2 revenue jumped 206.7% year-over-year but the company missed EPS estimates by $0.07 per share.
CoreWeave shares gained ground Thursday after announcing a partnership with Poolside. The AI coding startup backed by Nvidia will work with CoreWeave to build a large-scale AI data center.
The stock closed 1.8% higher at $141.74. Volume spiked to 35.8 million shares, up 55% from the typical 23.2 million daily average.
CoreWeave, Inc. Class A Common Stock, CRWV
The Poolside deal is expected to boost CoreWeave’s order backlog. It should also expand the company’s data center footprint in the competitive AI infrastructure market.
Year-to-date, CoreWeave shares are up 248.1%. The stock hit an intraday high of $150.40 before pulling back to close lower.
Wall Street Remains Split
Analysts maintain a “Moderate Buy” consensus on CoreWeave. The average price target sits at $127.64, below current trading levels.
Price targets vary wildly. HSBC has the lowest at $32 while Melius set the highest at $165.
Recent upgrades include Melius moving from hold to buy in September. Citigroup upgraded from neutral to buy in July with a $160 target. Barclays raised its target from $100 to $140 but kept an equal weight rating.
The stock has two strong buy ratings, sixteen buys, eleven holds, and three sell ratings.
Insider Sales Hit $3.46 Billion
Director Jack D. Cogen sold 1,112,004 shares September 2nd at $94.69 each. The $105.3 million sale reduced his stake by 8.27% to 12,329,676 shares.
Magnetar Financial dumped 1,451,063 shares September 19th at $125.60. That $182.3 million transaction cut their position by nearly 80%.
Total insider sales reached $3.46 billion over the past 90 days. That’s 28,611,578 shares hitting the market from corporate insiders.
CoreWeave’s Q2 earnings showed mixed results. Revenue hit $1.21 million, up 206.7% year-over-year. However, the company lost $0.27 per share versus the expected $0.20 loss.
Technical Picture
The 50-day moving average stands at $116.53. The 200-day moving average is $106.93. Both sit below the current price.
CoreWeave carries a 2.79 debt-to-equity ratio. Quick and current ratios both register at 0.52.
Market cap reached $69.38 billion. The company provides specialized cloud infrastructure for AI workloads.
The Poolside partnership marks another expansion move for CoreWeave’s AI data center business.
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