What's Going On With CoreWeave Stock On Friday?

CoreWeave Inc. (NASDAQ:CRWV) is trading lower in Friday’s premarket session ahead of its earnings report next week.

What’s Moving The Stock

Nasdaq futures are shedding 0.08% while S&P 500 futures are off a similar margin.

Adding to the recent overhang: CEO and President Michael Intrator disclosed the sale of 32,455 shares of Class A common stock worth approximately $7.72 million across multiple transactions on Feb. 11, per a Securities and Exchange Commission filing.

Technical Analysis

From a technical standpoint, CoreWeave’s stock is currently facing challenges. The stock is trading at $94.30, which is 3.3% below its 100-day simple moving average (SMA) and 12.2% below its 200-day SMA.

However, it remains 1.6% above its 20-day SMA and 10.3% above its 50-day SMA, showing some resilience in the short term. Over the past 12 months, the stock has seen a substantial gain of 142.85%, reflecting a strong performance trend despite recent pullbacks.

The Relative Strength Index (RSI) stands at 54.87, which is considered neutral, suggesting that the stock is neither overbought nor oversold at current levels.

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish signal with the MACD line at 1.8414 above the signal line at 1.7781, although the histogram value at 0.0634 indicates only mild upward momentum.

Earnings & Analyst Outlook

CoreWeave is set to report earnings on Feb. 26. With only 6 days until the earnings release, anticipation is building around the company’s financial health and future prospects.

• EPS Estimate: Loss of 65 cents
• Revenue Estimate: $1.53 billion

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price forecast of $125.70. Recent analyst moves include:

• Macquarie: Neutral (Maintains Target to $115.00) (Jan. 27)
• Mizuho: Neutral (Raises Target to $100.00) (Jan. 27)
• Deutsche Bank: Upgraded to Buy (Raises Target to $140.00) (Jan. 27)

Price Action

CRWV Price Action: CoreWeave shares were down 2.92% at $94.30 during premarket trading on Friday, according to Benzinga Pro data.

Photo: PJ McDonnell / Shutterstock