JPMorgan upgrades CoreWeave to Overweight, raises price target to $125

JPMorgan analyst Samik Chatterjee just handed CoreWeave a double upgrade gift: a rating bump from Neutral to Overweight, and a price target lift from $120 to $125. With shares trading around $86.90, the new target implies roughly 44% upside. The catalyst is straightforward. CoreWeave has been shifting toward shorter-duration contracts that command premium pricing, and JPMorgan responded by raising both its revenue and margin forecasts for the company. The numbers behind the upgrade CoreWeave posted $5.13 billion in revenue for 2025, representing a 168% year-over-year increase. The company went public in March 2025. In July 2026, CoreWeave raised prices by 25% across its services. New contracts now carry contribution margins 5-10 percentage points higher than their predecessors. JPMorgan’s team sees these improved economics as enough to offset investor concern about CoreWeave’s capital-intensive business model. At the time of the upgrade, CoreWeave’s market capitalization sat at approximately $47.9 billion. From Ethereum mining to AI powerhouse CoreWeave started life focused on Ethereum mining, running GPU farms to validate blockchain transactions. Management redirected that GPU inf...