CoreWeave Faces Class Action and Holds $180 Price Target on $56B Backlog
Citizens reiterated a Market Outperform rating on CoreWeave with a $180 price target, citing its $56 billion AI infrastructure backlog and leading GPU-as-a-Service position under multi-year contracts. Separately, a class action lawsuit alleges the company overstated deployment capacity and concealed data-center construction delays.
1. Analyst Reaffirmation and Backlog
An analyst team reiterated a Market Outperform rating on CoreWeave with a $180 price target, highlighting its position as a leading GPU-as-a-Service provider. The firm pointed to multi-year contracts and a revenue backlog exceeding $56 billion as evidence of sustained demand for AI infrastructure.
2. Class Action Lawsuit Details
A class action lawsuit has been filed against CoreWeave and certain executives, alleging securities fraud following significant stock declines. Plaintiffs claim the company overstated its capacity to deploy AI infrastructure and failed to disclose major data-center construction delays.
3. Growth Outlook and Risks
CoreWeave has reported triple-digit quarterly revenue growth and announced a merger agreement with Core Scientific signed in July 2025. The company faces risks including potential pricing pressure, customer concentration, and elevated leverage levels.