CoreWeave Inc (NASDAQ:CRWV) stock fell 0.26% (As on September 23, 11:21:52 AM UTC-4, Source: Google Finance) after Loop Capital initiated coverage of the company with a Buy rating and $165 price target. The firm sees ongoing potential for material profitability upside relative to the Street and ultimately an enterprise value to expected EBITDA multiple expansion, the firm tells investors in a research note. The research firm sees “ongoing potential for material P&L upside” compared to consensus estimates and expects eventual EV/EBITDA multiple expansion for the company.
Loop Capital views CoreWeave as “the largest of a handful of Neoclouds” being embraced by NVIDIA, Hyperscalers, and major AI Labs, including frontier model builders. The firm believes there is “material underappreciation” for how committed Hyperscalers and AI Labs remain to innovation, coinciding with NVIDIA’s Blackwell scaling up and new markets like Sovereign emerging for Neoclouds. Loop Capital’s calendar year 2027 revenue and EBITDA estimates of $17.9 billion and $12.8 billion slightly exceed Street consensus of $17.8 billion and $12.7 billion, with the $165 price target representing 10x EV/EBITDA on their 2027 estimates.
In other recent news, CoreWeave has made significant strides in both investment and strategic partnerships. The company announced a substantial £1.5 billion expansion in its AI data center capacity in the United Kingdom, elevating its total commitment in the region to £2.5 billion. This investment is aligned with the UK Government’s Compute Roadmap and is expected to create jobs in engineering and operations. Additionally, CoreWeave has secured a major agreement with NVIDIA, valued at $6.3 billion, under their existing Master Services Agreement. This deal allows NVIDIA to access CoreWeave’s cloud computing infrastructure while ensuring the purchase of any unsold capacity through 2032. Analyst firms have taken notice of these developments, with Citizens JMP upgrading CoreWeave’s stock rating to Market Outperform and Cantor Fitzgerald reiterating its Overweight rating. Barclays also maintained its Equalweight rating, highlighting the significance of the NVIDIA agreement. These recent developments reflect CoreWeave’s growing influence and strategic positioning in the cloud computing market.
Meanwhile, CoreWeave Inc. (CRWV) has drawn fresh attention from Wall Street, with analysts projecting notable growth opportunities driven by long-term industry trends and strategic partnerships. Wells Fargo upgraded its rating on CoreWeave to “Overweight” from “Equal Weight,” raising its price target to $170 from $105, citing long-term benefits from ongoing supply shortages and elevated infrastructure build-outs expected to continue into 2026, according to theFly.