(Updated to include BofA's commentary)
BofA Securities cuts its price target on CoreWeave (CRWV) to $140 from $168 after Q3 results. While quarterly performance was solid, full-year revenue guidance was lowered modestly due to temporary supply constraints.
The brokerage noted that demand trends remain strong, driven by a number of expansion deals with existing AI enterprises and new AI labs. However, shares are down sharply from June highs and continue to trade at a discount to peers. The brokerage expects estimates to remain depressed while the company works through the supply constraints.
CoreWeave has an average rating of overweight and mean price target of $136.58, according to analysts polled by FactSet.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 90.40, Change: -15.21, Percent Change: -14.40