AI cloud company CoreWeave (CRWV) has been in the news for huge computing deals. On Wednesday, the company announced a $6 billion agreement with trading firm Jane Street to provide next-generation compute, including Nvidia’s (NVDA) Vera Rubin technology. Jane Street also committed a $1 billion equity investment in CoreWeave Class A stock. Also, CoreWeave recently announced massive partnerships with Meta Platforms (META) and Anthropic. Top analysts from Cantor Fitzgerald and Evercore raised their price targets for CRWV stock, citing Jane Street and other deals.
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Trade CRWV with leverageTop Cantor Analyst Lifts CRWV Stock Price Target on Jane Street Deal
Cantor Fitzgerald analyst Brett Knoblauch raised his price target for CoreWeave stock to $156 from $149 and reiterated a Buy rating. The 5-star analyst highlighted that the Jane Street collaboration marked the third deal that CoreWeave has announced recently, following the $21 billion deal with Meta Platforms and a multi-billion-dollar deal with Anthropic.
Interestingly, Knoblauch’s analysis indicates that CoreWeave has enough capacity to announce many more deals in the upcoming months. This implies higher backlog (potential to see $100 billion by Q2 2026), greater near-term revenue growth, and a more diversified business. The analyst raised his price target for CRWV stock, as he believes that all these positives justify a higher multiple.
Evercore Analyst Sees Further Upside in CoreWeave Stock
Evercore analyst Amit Daryanani increased his price target for CoreWeave stock to $150 from $120 and reaffirmed a Buy rating. Assuming a 5-year contract duration for the Jane Street deal, the 5-star analyst estimates that it represents more than $1 billion in annual revenue and about 100-120 MW of compute capacity. He added that Jane Street’s $1 billion investment in CRWV stock should help fund the initial capital expenditure required.
“We think the Jane Street expansion provides yet another proof point that confirms the robust/diverse demand backdrop for AI compute infrastructure,” said Daryanani. He also noted that the Jane Street deal marks a material partnership with a non-frontier AI-model customer, reflecting robust demand for AI compute infrastructure beyond AI frontier model customers.
Overall, Daryanani thinks that CoreWeave’s recent deals, along with financing announcements and data points on customer contract renewals, address key investor concerns about demand, customer concentration risk, GPU useful life, and access to financing.
Is CRWV Stock a Good Buy?
Overall, Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on 15 Buys, eight Holds, and one Sell. The average CRWV stock price target of $124.09 indicates 6% upside potential. CRWV stock has risen 65% year-to-date.
