Morgan Stanley analyst Keith Weiss maintained a Hold rating on CoreWeave, Inc. Class A yesterday and set a price target of $58.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Keith Weiss has given his Hold rating due to a combination of factors surrounding CoreWeave’s recent strategic moves and market conditions. The proposed acquisition of Core Scientific is a significant development, providing CoreWeave with access to substantial power resources, which is crucial for their growth plans. However, the full integration and utilization of these resources may present challenges, as some assets might be difficult to transition immediately.
Additionally, while the acquisition could potentially enhance operational efficiency and provide diverse financing options, the transaction is still subject to regulatory and shareholder approvals, introducing uncertainty. These factors, combined with the current market valuation, suggest a cautious approach, leading to the Hold rating as investors await further clarity on the deal’s completion and its impact on CoreWeave’s financial performance.
In another report released yesterday, Stifel Nicolaus also downgraded the stock to a Hold with a $115.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRWV in relation to earlier this year.