CoreWeave Stock Averages 17% Drop After Earnings; Q2 Loss Expected to Widen
CRWV sits 47% above its 52-week low of $60.55.
Summary
CoreWeave shares have averaged a 17% decline following its last four quarterly reports, a pattern that looms over Tuesday's Q2 release. Analysts expected a loss of $1.45 per share, sharply wider than the $0.60 loss a year ago, on revenue of $2.56 billion, but the company reported a loss of $1.14 per share on revenue of $2.58 billion, edging past revenue estimates. The stock recently shed $1.53 billion in market cap in about a week and trades below its 200-day moving average, reflecting fragile sentiment. A new multi-year agreement with Solidigm for priority SSD access adds a potential operational tailwind. The company will provide forward-looking guidance on its earnings conference call and webcast.
At the time of this announcement, CRWV was trading at $88.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $48.5B. The 52-week trading range was $60.55 to $153.20. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.