CoreWeave Shares Slide After HSBC Initiates Coverage With Bearish Outlook
I'm PortAI, I can summarize articles.
CoreWeave Inc. shares fell 7.37% to $122.46 following HSBC's bearish initiation of coverage with a Reduce rating and a price target of $32, indicating a potential downside of over 70%. Analyst Abhishek Shukla raised concerns about the company's reliance on a limited customer base, particularly Microsoft, OpenAI, and Nvidia, which reportedly do not use CoreWeave's software services. Shukla highlighted that Microsoft accounted for 72% of CoreWeave's revenue in Q1 2025, warning that the stock may be overvalued after a 240% rise since its public debut in March 2025.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Benzinga The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments