CoreWeave Buy Rating Restored with $100 Target as Short Interest Climbs 13.9%
Bank of America reinstated coverage of CoreWeave with a buy rating and $100 price target, noting strong demand for its AI-optimized cloud platform. Shares trade near $81.39, down 53% over nine months, while short interest rose 13.9% to 55.13 million shares, or 16.5% of float.
1. BofA Reinstates Coverage
Bank of America reinstated coverage on CoreWeave, assigning a buy rating and a $100 price objective while highlighting the company’s proprietary software optimized for AI workloads as a key growth driver.
2. Stock Performance and Short Interest
CoreWeave shares trade around $81.39, down 0.7% on the day and sitting above an $80 support level after a 53% decline over nine months. Short interest climbed 13.9% in recent reporting periods, totaling 55.13 million shares or 16.5% of the available float.
3. Zonos Partnership
Zonos selected CoreWeave’s cloud platform to power its AI-driven duty, tax and international checkout systems, aiming to reduce latency and improve performance for globally distributed e-commerce operations.