AI cloud provider CoreWeave (CRWV) stock jumped 19.3% on Wednesday after the company posted strong financial results that beat Wall Street’s estimates. Revenue more than doubled year-over-year to $2.575 billion, while its revenue backlog reached $104 billion. Following the earnings report, several analysts reiterated their Buy ratings, with some also raising their price targets. Based on the average analyst price target, CRWV stock currently has about 25% upside potential.
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Explore CWVX for 2X leverage on CRWVFor context, CoreWeave provides high-performance computing and cloud services for AI workloads. Year-to-date, CRWV stock is up over 50.4%.
Latest Analysts’ Views on CRWV Stock
Analyst Arvind Ramnani Truist Financial raised his price target on CRWV stock from $126 to $155 and kept his Buy rating. He highlighted CoreWeave’s addition of nearly 500 megawatts of capacity during the quarter. Ramnani said this is more capacity than any other neocloud operator currently has in total. Moreover, CoreWeave has secured 25% higher pricing and 5% to 10% wider margins on recent contracts. Ramnani sees these improvements as further tailwinds for the company’s growth and profitability.
Likewise, five-star-rated analyst James Fish at Piper Sandler raised his price target on CRWV stock from $151 to $153 while maintaining a Buy rating. He said AI is moving from testing to core business use, while CoreWeave’s demand is broadening across regions and industries. Fish also sees upside from contract renewals, as CoreWeave is largely sold out of older and current-generation capacity. Overall, Fish reiterated CoreWeave as his top pick, pointing to growth beyond its core cloud offering and strong cross-selling opportunities.
Meanwhile, Oppenheimer analyst Param Singh reiterated his Buy rating and $150 price target on CoreWeave. He said the company’s “strong growth outlook and market positioning clearly outweigh the near-term investment needs.” However, Singh sees higher capital spending as a key concern. He believes the heavy investment could pressure free cash flow and operating margins in the near term, as CoreWeave adds data center capacity before the related revenue starts to flow in.
Who Are the Best Analysts Covering CRWV Stock?
Currently, Brent Thill from Jefferies is the most accurate analyst covering CRWV over the timeframes of three months, one year, and two years. He has a 67% success rate. On TipRanks, Thill ranks #2,682 among more than 12,000 tracked analysts.
Following the Q2 print, Thill reiterated his Buy rating on CRWV stock with a price target of $150, implying almost 40% from the current level.
Thill is also the most profitable analyst on CRWV stock over the similar timeframes.
Is CRWV Stock a Good Buy?
According to TipRanks, CRWV stock has received a Moderate Buy consensus rating, with 15 Buys, five Holds, and one Sell assigned in the last three months. The average price target for CoreWeave shares is $135.28, suggesting a potential upside of 25.57% from the current level.
