Analyst Keith Weiss of Morgan Stanley maintained a Hold rating on CoreWeave, retaining the price target of $91.00.
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Keith Weiss has given his Hold rating due to a combination of factors related to CoreWeave’s recent performance and market positioning. The company has shown strong momentum with significant intra-quarter developments, including large deals and partnerships that highlight its robust demand and execution capabilities. However, the stock price has already increased by over 50% since the last earnings report, reflecting these positive developments.
Despite the potential for CoreWeave to exceed consensus expectations in the upcoming quarter, the market has set a high bar, making it challenging to surpass the already elevated investor expectations. While the demand for GPU-based infrastructure remains strong and CoreWeave is well-positioned in the growing GenAI market, much of this potential is already factored into the current share price. Therefore, Weiss maintains a Hold rating, suggesting that while the company is a solid long-term investment, immediate upside may be limited given the current valuation.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a $140.00 price target.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRWV in relation to earlier this year.