CoreWeave Shares Jump 22% YTD as DA Davidson Lifts Target to $125
CoreWeave shares have surged 142% since March last year and are up 22% year-to-date, reflecting strong AI compute demand. DA Davidson raised its price target from $110 to $125 and projects 2026 capex of $30–35 billion, while Morgan Stanley maintained an Equal Weight rating with a $99 target.
1. Share Performance and AI Demand
CoreWeave shares have climbed 142% since March last year and are up 22% year-to-date, driven by robust demand for AI compute resources and expanding data center capacity.
2. DA Davidson Raises Target, Forecasts Capex Growth
DA Davidson increased its price target from $110 to $125 and projects capital expenditures rising to $30–35 billion in 2026 versus $14.9 billion in 2025, citing rapid capacity build-out as a key success metric.
3. Morgan Stanley’s Outlook and Growth Challenges
Morgan Stanley maintained an Equal Weight rating with a $99 target, cautioning that meeting ambitious growth targets will require exiting 2026 with over 850 megawatts of power capacity and a clear path to five gigawatts.
4. NVIDIA Ownership and Potential Secondary Offering
Jim Cramer noted NVIDIA’s substantial equity stake in CoreWeave and suggested the chipmaker could execute a secondary share sale to capitalize on its investment and further fund expansion.