Stifel analyst Ruben Roy raised the firm’s price target on CoreWeave (CRWV) to $75 from $55 and keeps a Buy rating on the shares. In its first quarterly report as a public company, CoreWeave reported “strong results,” the analyst tells investors. CoreWeave followed its recently completed $11.9B strategic contract with OpenAI with the addition of a new hyperscaler customer that the firm thinks is Google (GOOGL), several expansion agreements with existing large customers, including a $4B deal, and new enterprise customers, such that revenue backlog not including the recent $4B deal was $25.9B exiting the March quarter, the firm noted.
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Read More on CRWV:
- CoreWeave price target raised to $58 from $46 at Morgan Stanley
- CoreWeave price target raised to $76 from $42 at BofA
- CoreWeave price target raised to $60 from $50 at Wells Fargo
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