CoreWeave (CRWV) Stock Falls 11% After Jefferies and Citigroup Downgrade to Hold

TLDR

• CoreWeave (CRWV) fell 11.4% on Friday, hitting an intraday low of $71.67, down from a prior close of $81.10
• Both Jefferies and Citigroup downgraded the stock from Buy to Hold on Wednesday
• Q1 revenue grew 111.6% year over year to $2.08 billion, but EPS of -$1.40 missed estimates by $0.23
• Insiders have sold over 17 million shares worth nearly $2 billion in the last 90 days
• The stock still holds a Moderate Buy consensus with an average analyst price target of $136.25

CoreWeave (CRWV) dropped 11.4% on Friday, trading as low as $71.67 before closing around $71.88. The previous close was $81.10. Volume came in at roughly 25.2 million shares, slightly below the daily average of 28.2 million.

CoreWeave, Inc. Class A Common Stock, CRWV

The selloff followed a pair of analyst downgrades. Both Jefferies and Citigroup cut their ratings on CRWV from Buy to Hold on Wednesday. That shift in tone from two major banks added pressure to a stock that had already been pulling back from its 52-week high of $153.20.

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