Bernstein Cuts CoreWeave (CRWV) Price Target to $51, Keeps Underperform as Shares Hit 52-Week Low

Bernstein lowered its price target on CoreWeave (CRWV) to $51 from $74 while maintaining an "Underperform" rating, as the AI cloud provider's shares hit a 52-week low of $53.50 on Oct. 22 amid rising interest rates and mounting concerns over the cost of AI infrastructure expansion. Some CoreWeave bonds are now yielding roughly 15%. Analyst Madison Rezaei said she does not expect CoreWeave to go to zero, citing its revenue backlog and the possibility that Nvidia (NVDA), which owns about 9% of the company, could step in. CRWV stock has fallen 55% over the past year and 24% in 2026, versus a 13% gain for the S&P 500 Index ($SPX) over the past year. The debt-heavy company's fiscal 2026 second-quarter revenue rose 112% year-over-year to $2.58 billion, but it posted a GAAP loss of $1.14 per share and $626 million net loss, with interest expenses at $640 million. Backlog reached $104 billion. CoreWeave raised its year-end capacity target to over 1.85 gigawatts, and guided third-quarter interest expenses of $860 million to $940 million. Despite the selloff, the stock carries a consensus "Moderate Buy" rating with an average price target of $131.83.