D.A. Davidson Goes Neutal On CoreWeave. It’s Hard to Chart a Path Forward for CRWV.

Brokerage D.A. Davidson has now traveled the gamut of emotions a broker could go through for a stock with the neocloud company, CoreWeave (CRWV). Analysts led by Gil Luria, in a note to clients, acknowledged as such, stating, “As a firm, Davidson has been to both extremes on CRWV, and we see this as a good time to be balanced. On one hand we are optimistic regarding the outlook for the category of providing compute and believe CoreWeave has made itself a key participant. On the other hand, we remain skeptical of CoreWeave’s ability to generate sufficient returns given its margin profile and high dependence on debt financing. We would also like to see less insider selling.”

Essentially, Luria and his team have landed where they started. The firm had initiated coverage on the stock with a"Neutral" rating and had downgraded it to “Underperform” in May 2025. Earlier this year, Luria and his team again assigned the rating of “Neutral” to CRWV stock, citing the $100 billion fundraising deal with OpenAI. Finally, a strong showing in Q4 and AI deals with players like Anthropic convinced the team to upgrade the stock to a “Buy.”