CoreWeave stock target lifted to $75 by Needham analysts

On Friday, Needham analysts increased their price target for CoreWeave (NASDAQ:CRWV) shares, raising it to $75 from the previous $55, while maintaining a Buy rating on the stock. Currently trading at $65.77 with a market capitalization of $31.57 billion, CoreWeave has shown significant momentum, with a 28% return over the last week according to InvestingPro data. The adjustment follows the release of CoreWeave’s 10-Q filing, which provided detailed information on the company’s capital expenditures and debt instruments.

The analysts at Needham expressed continued confidence in CoreWeave, as evidenced by their decision to uphold a Buy rating. While InvestingPro data reveals some financial challenges, including a current ratio of 0.44 and significant cash burn, they noted that their revised price target is based on updated estimates that take into account the new financial details disclosed in the 10-Q report.

In a statement regarding the price target change, the Needham analyst said, "We remain Buy-rated and increase our Price Target (NYSE:TGT) to $75 (from $55), with our updated estimates." They referenced a previous Flash note that left the price target and estimates unchanged, clarifying that their model relies heavily on CoreWeave’s capital expenditures and debt, which had not been specifically outlined prior to the latest filing.

CoreWeave, which is traded on the NASDAQ, has been under the close watch of analysts who track the company’s financial maneuvers and their implications for the stock’s valuation. The recent 10-Q filing has provided the necessary insights for Needham to reassess and subsequently raise their price target.

The updated price target of $75 represents a significant increase and indicates the analysts’ optimistic outlook for CoreWeave’s financial performance. This new target is set with the expectation that the company’s investments and financial strategies will drive positive results in the future.

In other recent news, CoreWeave has reported impressive financial results for the first quarter of 2025, with revenue hitting $982 million, marking a 420% increase year-over-year. This revenue figure significantly surpassed analyst forecasts by 14%, highlighting the company’s robust growth trajectory. Despite a net loss of $315 million, CoreWeave’s earnings announcement has instilled investor confidence, as evidenced by the company’s decision to raise its full-year revenue guidance to between $4.9 billion and $5.1 billion. The company also unveiled a strategic $4 billion expansion deal with OpenAI, further boosting its revenue backlog, which stands at $29.9 billion when including the OpenAI contract.

JPMorgan has raised its price target for CoreWeave shares from $43.00 to $66.00, maintaining an Overweight rating, following the company’s strong financial performance and strategic customer deals. The firm’s analysts noted CoreWeave’s ability to secure major customers like Google (NASDAQ:GOOGL) and OpenAI as a key factor in its upward trajectory within the AI hyperscaler market. Additionally, CoreWeave has expanded its data center operations with a new facility in Spain, reflecting its commitment to increasing infrastructure to meet growing demand.

The company is also navigating accounting complexities related to its contracts, particularly with OpenAI, which have yet to be finalized in the Remaining Performance Obligations (RPO). Despite this, CoreWeave’s financial outlook remains positive, with expectations for continued growth and increased capital expenditures to support its expanding business operations. These developments underscore CoreWeave’s strategic positioning and potential for sustained success in the evolving AI market.

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