CoreWeave (CRWV) stock has risen about 23% year-to-date, driven by strong demand for AI cloud computing. Last week, shares gained from favorable updates provided at the neocloud company’s Fully Connected event. Compass Point analyst Michael Donovan reiterated a Buy rating on CRWV stock with a price target of $150, implying more than 67% upside potential from Friday’s closing price. The analyst reacted positively to CoreWeave’s Forge offering, which was launched at the Fully Connected event.
“CoreWeave’s software upgrade puts more of the customer’s AI development cycle on its platform,” said the analyst.
Several analysts reacted positively to the updates provided at the event, including the availability of Nvidia’s (NVDA) Vera Rubin NVL72 on CoreWeave’s cloud.
Compass Point Is Upbeat About CoreWeave’s Forge
Donovan noted that CoreWeave’s new Forge software deepens customer engagement by connecting production feedback with tools to diagnose model failures, improve performance, and evaluate changes.
Furthermore, Donovan expects this integration of customer production feedback with tools, powered by Forge, to support retention and drive repeat spending on training and inference as customers enhance their applications.
He also expects this integration to reinforce the company’s positioning as an AI cloud. Overall, Donovan expects CoreWeave’s software and deployment experience to help differentiate it even as GPU availability improves.
Likewise, Truist analyst Arvind Ramnani reiterated a Buy rating on CoreWeave stock with a $165 price target, highlighting the company’s pricing power amid a strong demand backdrop.
Is CRWV Stock a Good Buy?
Overall, Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on 20 Buys, five Holds, and two Sells. The average CRWV stock price target of $142.43 indicates 62.2% upside potential.
