Analyst: AI Advantage Makes CoreWeave Stock a 'Buy'

BofA Global Research reinstated its coverage of CoreWeave Inc (NASDAQ:CRWV) stock this morning with a "buy" rating, and set its price objective at $100. The analyst in coverage said the cloud computing concern is well positioned to benefit from recent developments to AI infrastructure, amid strong demand and its proprietary software that is optimized for AI workloads.

CRWV is down 0.7% to trade at $81.39 at last glance, however, erasing is premarket lead amid broader market headwinds. The shares have lingered below $90 since late February, though a floor at $80 is keeping losses in check. The equity remains above its December pullback, which brought shares to their lowest level since May. The stock has shed 53% over the past nine months.

Short sellers are firmly in control. Short interest rose 13.9% in the last two reporting periods, and the 55.13 million shares sold short now account for 16.5% of the stock's available float.