Cantor Fitzgerald initiated coverage of CoreWeave (CRWV) stock with a Buy rating and a price target of $116, noting the artificial intelligence (AI)-powered cloud company’s “significant AI market opportunity.” Despite declining 21% over the past month, CRWV stock is still up 128% from its initial public offering (IPO) price of $40, thanks to AI tailwinds.
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The recent pullback in CoreWeave stock reflects a larger-than-anticipated Q2 loss and the expiration of the IPO lock-up period, which allowed early investors and insiders to sell their shares.
Cantor Fitzgerald Is Bullish on CoreWeave Stock
Cantor Fitzgerald analyst Thomas Blakey explained that his $116 price target for CoreWeave stock reflects an EV/R (enterprise value-to-revenue) multiple of 7x (2026 estimate), compared to his firm’s infrastructure software coverage group average of 8x, excluding Palantir Technologies (PLTR) stock.
The 4-star analyst added that his bullish thesis on CoreWeave stock is based on a “healthy balance” between massive AI market prospects and dynamic execution risks. Blakey expects CRWV to benefit from secular growth trends in AI, specifically large language model (LLM) training and inference-based usage, given that the company is a software-driven AI-focused hyperscaler.
However, Blakey thinks that CRWV’s “relatively unique” demand and revenue growth setup will create longer-term customer concentration, financing, and power-related execution risks.
The bullish review by Blakey follows recent rating upgrades by analysts at Arete Research and H.C. Wainwright, reflecting confidence in CoreWeave’s growth potential.
Is CoreWeave Stock a Buy, Sell, or Hold?
Overall, Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on nine Buys, 13 Holds, and two Sell recommendations. The average CRWV stock price target of $120.52 indicates about 32% upside potential from current levels.
