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The “still too cheap” club
CoreWeave got a fresh confidence boost Tuesday after Cantor Fitzgerald reiterated its Overweight rating and kept the $167 price target in place. In plain English: the analyst thinks the market is still underestimating how much juice this AI infrastructure name has left in the tank.
The stock jumped roughly 10%, shrugging off a weak day for big tech. Because apparently when the Nasdaq is having a bad mood day, CoreWeave decides to show up in a leather jacket and sunglasses.
Why the bulls are getting louder
Cantor’s case is basically: the market is staring at the wrong scoreboard.
- The firm says CoreWeave’s latest disclosure hints at stronger growth than investors expected.
- It points to a beefier run-rate EBITDA figure and a backlog that keeps getting fatter.
- It also argues the company is making progress toward its long-term revenue targets faster than the crowd thinks.
That matters because CoreWeave isn’t just another “AI” stock in the abstract. It’s one of the names trying to turn the AI buildout frenzy into actual contracts, actual revenue, and eventually actual profits. That’s the whole game.
The Nasdaq-100 sugar rush
There’s also a separate catalyst here: CoreWeave is set to join the Nasdaq-100 during the June rebalance, effective before the market opens on June 22. That means index-tracking funds will need to buy the stock, which can create a nice little demand wave whether Wall Street feels poetic about it or not.
Big picture: CoreWeave is getting two things at once — a bullish analyst note and a mechanical index bump. That’s the kind of combo that can keep a stock flying even when the broader market is tapping the brakes.