AI cloud company CoreWeave (CRWV) is scheduled to announce its second-quarter earnings on August 11. Despite recent volatility and broader market concerns about the durability of AI spending, CRWV stock has gained 27% year-to-date. CoreWeave bulls see solid upside in the stock due to strong demand for AI computing and multi-year deals that provide revenue visibility. However, some analysts expect shares to be under pressure due to worries about CRWV’s high spending and debt levels.
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CWVX: an alternative to margin or options on CRWVOverall, a strong Q2 beat and favorable commentary on the backlog could drive the stock higher. Wall Street expects CoreWeave to report a wider loss per share of $1.22 compared to $0.27 in the prior-year quarter. Revenue is projected to rise 111% year-over-year to $2.55 billion.
Analysts’ Views Ahead of CoreWeave’s Q2 Earnings
Ahead of Q2 earnings, Deutsche Bank analyst Brad Zelnick reiterated a Buy rating on CoreWeave stock and raised his price target to $150 from $135. The 5-star analyst is “very bullish” on the company’s fundamentals and believes that the pullback from June levels makes CRWV stock compelling. However, Zelnick cautioned that the stock might be under pressure over the near term due to concerns about margins amid rising costs as the company expands and ongoing financing needs.
Also, Wells Fargo analyst Michael Turrin reiterated a Buy rating on CoreWeave with a price target of $155. The analyst expects the company to deliver low-to-mid single-digit upside on revenue. Turrin noted that the absence of announcements on any major deals during the second quarter indicates fewer deals above the $5 billion TCV (total contract value) threshold over the past 90 days. Turrin expects CoreWeave to report remaining performance obligation (RPO) of $107 billion as of June 30, implying about $10 billion in bookings during the quarter.
Furthermore, Turrin expects investors to closely watch ROI (return on investment), given the ongoing concerns about spending on AI infrastructure. He expects investors to mainly focus on Q2 operating margin, as CoreWeave had earlier indicated several times that Q1 2026 margin would be the bottom and margins will expand thereafter. The analyst expects CoreWeave to report operating margins of 3%, 6%, and 13% for Q2 2026, Q3 2026, and Q4 2026, respectively, compared to 1% in the first quarter.
Here’s What Options Traders Expect
According to TipRanks’ Options Trading Tool, options traders expect a 15% move in CoreWeave stock in reaction to Q2 2026 results. This implied move is lower than the average post-earnings move of 16.76% (in absolute terms) in CRWV stock over the past four quarters.
Is CRWV Stock a Good Buy?
Heading into Q2 earnings, Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on 13 Buys, four Holds, and one Sell. The average CRWV stock price target of $129.63 indicates 43% upside potential.
