CoreWeave (CRWV) stock trended higher on Tuesday, as analysts at Wells Fargo and Melius Research upgraded their ratings for the artificial intelligence (AI) infrastructure company. These upgrades reflect growing optimism about the AI hyperscaler. CRWV stock has risen about 42% over the past month and has rallied 233% compared to its initial public offering (IPO) price of $40.
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Wells Fargo Turns Bullish on CoreWeave Stock
Wells Fargo analyst Michael Turrin upgraded CRWV stock to Buy from Hold and increased the price target to $170 from $105. Turrin highlighted that, unlike most software companies that are still waiting for AI monetization, CoreWeave is well-positioned to benefit from the strong demand, driven by an elevated build cycle and persistent shortages into 2026.
Turrin raised his Fiscal 2026 and 2027 revenue estimates by 5% and 9%, respectively. He sees the possibility of CoreWeave grabbing market share in the interim, with both Microsoft (MSFT) and Alphabet (GOOGL) recently expanding their arrangements with the company. Further, Turrin highlighted that Nvidia’s (NVDA) recent deal to purchase all unused capacity through 2032 gives CoreWeave a “blank check” to build out new capacity for more than six years.
Melius Analyst Upgrades CRWV Stock to Buy
Likewise, Melius analyst Ben Reitzes upgraded CoreWeave stock to Buy from Hold and increased the price target to $165 from $128. The 4-star analyst’s new price target is based on a valuation multiple of 23x 2027 earnings before interest and taxes (EBIT). Reitzes highlighted that CoreWeave is one of the beneficiaries of accelerating cloud demand.
The analyst noted that the AI infrastructure company is benefiting from accelerating cloud demand. Reitzes added that CoreWeave is generally among the first to receive Nvidia’s next-generation AI systems, positioning it well to capture a large amount of cloud demand over the long term. He believes that as inferencing “explodes,” CoreWeave stands to gain significantly.
Is CRWV Stock a Buy, Sell, or Hold?
Currently, Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on 15 Buys, 11 Holds, and two Sell recommendations. The average CRWV stock price target of $145.31 indicates 8.2% upside potential from current levels.
