JPMorgan and UBS have also recently issued bullish calls on CoreWeave, pointing to strong AI compute demand, premium pricing and rising revenue per gigawatt.
- William Blair initiated coverage of CoreWeave with an ‘Outperform’ rating, citing strong demand from model training, inference and agentic AI.
- It noted that CoreWeave has established itself as a strategic infrastructure provider to many of the world's largest hyperscalers and AI labs.
- The firm said investors may be underestimating CoreWeave’s ability to finance its expansion and its earnings power.
Shares of CoreWeave (CRWV) traded flat in early-morning trade on Wednesday amid a tepid broader market despite William Blair initiating coverage of the company with an ‘Outperform’ rating.
The firm said the "rapid scaling" of model training, inference, and agentic AI is creating "substantial demand" for accelerated computing infrastructure. It added that CoreWeave has established itself as a strategic infrastructure provider to many of the world's largest hyperscalers and AI labs.
According to William Blair, the market is currently underestimating both CoreWeave's ability to finance its growth efficiently and the earnings power that can emerge as contracted capacity reaches mature utilization.
CRWV Stock Nears First Back-To-Back Monthly Gain Since IPO Rally
CRWV stock edged around 0.3% higher in pre-market trade. In the previous session, Cathie Wood’s ARK Invest bought about 255,000 shares of CoreWeave, according to the latest trading disclosure.
CoreWeave has also struggled to string together monthly gains since its public debut. May and June were the only consecutive months of gains following its launch. If the stock holds its current September gain of about 1.23%, it would mark its first back-to-back monthly advance since then.
Wall Street Bullish On CRWV Stock
The William Blair coverage comes amid a series of bullish analyst calls on CoreWeave in September.
Last week, Jones initiated coverage with a ‘Buy’ rating and a $160 price target. JPMorgan analyst Samik Chatterjee also upgraded CoreWeave to ‘Overweight’ from ‘Neutral,’ raising his price target to $125 from $120. The firm cited a favorable pricing backdrop for compute.
Earlier this month, UBS initiated coverage with a ‘Buy’ rating and a $120 price target. The firm said investor sentiment remains cautious, reflected in the stock trading at roughly 3 times its 2027 revenue estimate.
CRWV Stock Still Trails Analyst Price Targets
Wall Street’s current price targets reflect a wide gap between CoreWeave’s recent trading level and analysts’ expectations.
Koyfin data puts the 12-month average price target at $141.58, implying more than 64% potential upside from the stock’s current level. Of the 41 analysts covering the stock, 30 have a ‘Strong Buy’ or ‘Buy’ rating, eight have a ‘Hold’ rating, and three have a ‘Sell’ or ‘Strong Sell’ rating.
How Is Retail Feeling About CRWV Stock?
On Stocktwits, retail sentiment around CRWV stock trended in ‘bullish’ territory over the past day, alongside chatter at ‘normal’ levels.
Retail traders on the platform forecast the stock will move higher by the end of the week.
View this Stocktwits post
View this Stocktwits post
CRWV stock has gained around 20% this year but dropped nearly 30% in the last 12 months.
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