CoreWeave (CRWV) stock surged about 11% on Friday after the cloud company announced a multi-year agreement with AI startup Anthropic to power its Claude AI models. Interestingly, shares rose 3.5% on Thursday following the announcement of an expanded, long-term agreement with Meta Platforms (META) to provide AI cloud capacity through December 2032 for about $21 billion. In reaction to the crucial deals, Macquarie analyst Paul Golding upgraded CoreWeave stock to Buy from Hold and increased the price target to $125 from $90.
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Golding cited CoreWeave’s deals with Meta Platforms and Anthropic as the reason for his rating upgrade. He believes that these deals indicate that CRWV’s “ecosystem role is becoming structural.” The 5-star analyst views CoreWeave as a long-term key player, not just a short-term balance-sheet financing or GPU risk solution.
Furthermore, Golding believes that recent headlines validate CoreWeave’s “differentiated platform.” He added that recent financing deals reflect a solid demand picture, committed counterparties, favorable contract terms, and supply constraints, positioning CoreWeave at an investment-grade level.
Top Evercore Analyst Reaffirms Buy Rating on CRWV Stock
Also, Evercore analyst Amit Daryanani reiterated a Buy rating on CoreWeave stock with a price target of $120 following the announcement of the Anthropic deal. The 5-star analyst noted that while CoreWeave and Anthropic did not disclose specific details about the size and timing of their deal, they indicated that the arrangement will begin later this year. Moreover, Anthropic will be using CoreWeave’s cloud platform to run workloads at production scale.
Daryanani also noted that the deal with Anthropic will start with a phased roll-out and expand over time. The analyst views this deal favorably, as it not only assures further customer diversification but also validates CoreWeave’s platform, with nine out of 10 leading AI companies running their infrastructure on it.
The analyst also believes that the Anthropic and Meta deals indicate a strong demand environment. “The Anthropic deal is another validation of CRWV’s platform, their ability to procure data center-powered shell capacity, and the robust demand backdrop for AI infrastructure,” said Daryanani.
Is CoreWeave Stock a Buy, Sell, or Hold?
Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on 14 Buys, eight Holds, and one Sell recommendation. The average CRWV stock price target of $115.57 indicates 13.3% upside potential. CRWV shares have gained more than 42% year-to-date.
