CoreWeave (CRWV) stock has pulled back about 43% over the past month, reflecting concerns about valuations of artificial intelligence (AI) stocks and the company’s weak full-year guidance. On Friday, popular investor Cathie Wood’s ARK Innovation ETF (ARKK) and ARK Next-Generation Internet ETF (ARKW) bought 350,734 shares of CoreWeave, worth about $24.27 million, reflecting confidence in the AI-powered cloud computing platform’s growth potential. Meanwhile, Wall Street is cautiously optimistic about CRWV stock, with the average price target suggesting solid upside from current levels.
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CoreWeave reported better-than-expected Q3 results, with revenue surging 134% year-over-year to about $1.36 billion. Moreover, the company ended the quarter with a solid backlog of $55.6 billion. However, CoreWeave lowered its full-year revenue guidance, citing a delay at a third-party data center developer. “The overwhelming majority of the delay that you’re seeing should be taken care of within Q1 of next year,” assured CEO Mike Intrator.
Analysts’ Views on CoreWeave Stock
In reaction to the Q3 print, Compass Point analyst Michael Donovan initiated coverage of CoreWeave stock with a Buy rating and a price target of $150. Donovan stated that while CoreWeave went public only in March 2025, it already serves clients like Microsoft (MSFT) and boasts a revenue backlog of $55.6 billion as of Q3 end, reflecting 85% sequential growth.
The analyst highlighted that this backlog comprises $50 billion remaining performance obligations (RPOs) and $5.6 billion of additional amounts expected under committed contracts from clients like OpenAI (PC:OPAIQ), with $22.4 billion of total deal value, and Meta Platforms (META) with a $14.2 billion deal through 2031. Donovan also highlighted that Nvidia (NVDA), a 7% shareholder, agreed to buy any unused capacity to generate revenue through 2032. “This demand profile—essentially locked-in, multi-year revenues—strengthens our conviction that CoreWeave’s growth is durable,” stated Donovan.
Meanwhile, Bank of America Securities analyst Brad Sills lowered the price target for CRWV stock to $140 from $168 and reiterated a Hold rating. Sills highlighted that while CoreWeave lowered the full-year guidance by $150 million to $5.10 billion (mid-point of guidance range), the revision was driven by a supply constraint that he views as “fixable” by the first quarter of 2026.
Sills argues that demand for CoreWeave remains solid, as reflected in the robust backlog and RPO, supported by multiple expansion deals with existing AI enterprises and new AI labs. While CRWV stock has already seen a notable selloff from its June high, Sills expects estimates to remain depressed while the company addresses its supply constraints.
Is CRWV a Good Stock to Buy?
Overall, Wall Street is cautiously optimistic about CoreWeave stock. While many analysts believe in the long-term growth potential of the AI infrastructure company, they noted the ongoing supply chain pressures.
Currently, Wall Street has a Moderate Buy consensus rating on CoreWeave stock based on 12 Buys, 11 Holds, and one Sell recommendation. The average CRWV stock price target of $148.32 indicates 107% upside potential from current levels.
