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Investing.com - Wells Fargo raised its price target on CoreWeave (NASDAQ:CRWV) to $105.00 from $60.00 on Wednesday, while maintaining an Equal Weight rating on the stock. The company, now valued at $71.4 billion, has seen its shares surge 34.93% in the past week alone. According to InvestingPro analysis, the stock appears overvalued at current levels, trading at significant premiums across multiple valuation metrics.
The cloud computing company reported second-quarter revenue of $1.21 billion, exceeding the high end of its guidance by approximately $115 million, or 10 percentage points. This represents a 207% increase in revenue compared to the same period last year. The company maintains an impressive gross margin of 74.28%, though InvestingPro data indicates it remains unprofitable with a negative earnings per share of $5.19.
CoreWeave management attributed the strong performance to continuing robust demand, noting that capacity constraints persist as demand continues to outpace supply. The company also reported a $30 billion backlog in the second quarter, up approximately $4 billion sequentially, primarily due to an expansion with OpenAI.
Following these results, CoreWeave raised its fiscal year 2025 revenue guidance to $5.15-5.35 billion from its previous forecast of $4.9-5.1 billion, an increase of $250 million.
The company reported capital expenditures of $2.9 billion for the quarter, slightly below its guidance range of approximately $3-3.5 billion.
In other recent news, CoreWeave reported second-quarter 2025 revenue of $1.21 billion, surpassing consensus estimates of $1.08 billion. The company achieved a revenue growth of 207% year-over-year, exceeding analyst expectations by 12%. Adjusted operating income was $199.8 million, beating forecasts of $159.4 million, with operating margins at 16%, 170 basis points higher than anticipated. Stifel raised its price target for CoreWeave to $120 from $115, maintaining a Hold rating. Meanwhile, Goldman Sachs kept a Neutral rating on the stock. Morgan Stanley reiterated its Equalweight rating with a price target of $91, highlighting CoreWeave’s strong position in the GPU build-out market. DA Davidson reiterated an Underperform rating, expressing concerns over profitability and borrowing costs. Mizuho maintained a Neutral rating with a $150 price target, noting the company’s significant post-IPO rally. These developments reflect diverse analyst perspectives on CoreWeave’s financial performance and market position.
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