DA Davidson Downgrades CRWV to Neutral, PT Cut to $100
Key Questions
Why did DA Davidson downgrade CoreWeave stock?
DA Davidson downgraded CRWV to Neutral from Buy and cut its price target to $100 from $175, citing valuation concerns amid high capex and debt levels. The downgrade occurred on May 18.
How did CoreWeave's stock react to the DA Davidson downgrade?
CoreWeave shares fell 8.68% to around $100 on May 19 following the downgrade. The move triggered broader premarket weakness in the stock.
What price targets have other analysts set for CoreWeave?
Citi maintains a Buy rating with a $158 price target while Evercore ISI has an Outperform rating and $150 target. Bernstein reiterated an Underperform rating with a $67 target.
What is the average analyst price target for CoreWeave?
The average one-year price target for CoreWeave stands at approximately $141.61 per share based on recent analyst coverage. The median target among 22 analysts is $135.50.
How does the DA Davidson downgrade contrast with other recent ratings?
The Neutral downgrade and lowered target differ from Citi's Buy rating and Evercore's Outperform stance, both supported by robust AI demand. Bernstein remains more cautious on hyperscaler competition.
What factors are analysts watching for CoreWeave?
Analysts focus on AI compute demand outlook, competition from hyperscalers, and the company's ability to manage capex and debt. Strong backlog growth continues to support positive views from some firms.
Did any other firms initiate or change ratings on CoreWeave recently?
D.A. Davidson initiated coverage with a Neutral rating and $100 target. Citi raised its price target to $158 while keeping a Buy rating on the shares.
What was CoreWeave's stock price after the downgrade reaction?
CoreWeave traded near $99.998 on May 19, down about 3.64% from the prior close and roughly 8.68% on the day of the downgrade news.
Downgrade to Neutral/PT $100 on May 18 (from $175) citing valuation caution amid capex/debt. Stock -8.68% to ~$100; contrasts Citi $158 Buy and Evercore $150 Outperform.