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Investing.com - Cantor Fitzgerald initiated coverage on CoreWeave (NASDAQ:CRWV), currently valued at $48.84 billion, with an Overweight rating and a price target of $116.00 on Wednesday. According to InvestingPro data, the stock has surged 128.47% over the past six months, though analysis suggests the shares are currently trading above their Fair Value.
The research firm cited a "healthy balance between a significant AI market opportunity and dynamic execution risks" as the primary driver for its positive outlook on the AI-focused hyperscaler.
Cantor Fitzgerald expects CoreWeave to benefit from secular growth trends in artificial intelligence, particularly in large language model (LLM) training and inference-based usage, as well as near-term demand/supply imbalance in the market.
The $116 price target represents a 7.0x multiple on CoreWeave’s calendar 2026 estimated enterprise value to revenue ratio, which is below the 8.0x average for Cantor’s infrastructure software coverage group, excluding Palantir.
The firm also acknowledged potential longer-term risks for CoreWeave, including customer concentration, financing challenges, and power-related execution concerns that could impact the company’s growth trajectory.
In other recent news, CoreWeave has seen several significant developments. CoreWeave’s earnings and revenue results were not directly highlighted, but the company experienced an upgrade from H.C. Wainwright, moving from a Neutral to a Buy rating with a price target set at $180. Additionally, MoffettNathanson raised its price target for CoreWeave from $56 to $65, maintaining a Neutral rating. Meanwhile, Jane Street Group disclosed a 5.4% stake in CoreWeave, making it the fourth-largest shareholder. In other activities involving CoreWeave shares, major banks such as JPMorgan, Goldman Sachs, and Morgan Stanley conducted block trades, selling substantial shares in the company. These transactions occurred in the range of mid-$90s to $97 per share, according to sources reported by CNBC. These recent developments reflect ongoing interest and strategic movements surrounding CoreWeave.
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