CoreWeave (CRWV) Climbs 22.6% on ‘Buy’ From Citigroup

We recently published 10 Firms in the Limelight. CoreWeave Inc. (NASDAQ:CRWV) is one of the best performers on Friday.

CoreWeave surged by 22.64 percent on Friday to close at $83 apiece as investors took path from an investment firm’s renewed coverage, but were generally optimistic for the stock.

In a market report, Citigroup issued a “buy” recommendation on shares of CoreWeave Inc. (NASDAQ:CRWV), albeit it slashed its price target by 30 percent to $135 from $192 previously.

Still, the new price target marked a 62 percent upside potential from its latest closing price.

“Coreweave continued to see strong bookings in 3Q with 85% QoQ and 270% Y/Y growth, but supply constraints and specifically powershell capacity delays resulted in a timing issue with revenue + CapEx (Capital Expenditure) pushed from Q4 into 1Q26. Shares have been under pressure post quarter, amidst broader AI market + financing concerns,” Citigroup said.

However, it said that recent management check indicates that CoreWeave Inc.’s (NASDAQ:CRWV) capacity and bookings would continue to expand in the fourth quarter of the year, which could support growth acceleration in 2026.

“Financially, [CoreWeave Inc. (NASDAQ:CRWV)] is in a strong position with over 60% of its revenue attached to investment-grade customers and plans to announce a new credit facility in the first half of next year, which should further reduce its cost of capital,” Citigroup said.

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Disclosure: None. This article is originally published at Insider Monkey.