Artificial intelligence (AI)-powered cloud computing company CoreWeave (CRWV) is scheduled to announce its second-quarter results after the market closes on Tuesday, August 12. Despite the pullback over the past month, CRWV stock has jumped 224% from its initial public offering (IPO) price of $40 due to the optimism about AI infrastructure companies. Meanwhile, Wall Street expects CoreWeave to report a loss per share of $0.23 on revenue of $1.08 billion for the second quarter.
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While CoreWeave delivered impressive revenue growth of 420% in Q1 2025, several analysts are cautious due to many reasons, including the stock’s steep valuation, high debt levels, and significant dependence on its major customer, Microsoft (MSFT). Moreover, the expiration of CRWV’s IPO lockup is approaching in late September, following which insiders and early investors are allowed to sell the stock.
Coming to Q2 earnings, investors will pay attention to management’s commentary on the demand backdrop and update on the Core Scientific (CORZ) acquisition, given that major CORZ shareholders are demanding better terms.
Analysts’ Views Ahead of CoreWeave’s Q2 Earnings
While CoreWeave recently earned a rating upgrade to Buy from Citi analyst Tyler Radke, most analysts remain cautious on the stock.
Heading into the Q2 results, Morgan Stanley analyst Keith Weiss increased the price target for CoreWeave stock to $91 from $58, while reiterating a Hold rating. The 5-star analyst noted the strong first-quarter results, which reflected solid execution and accelerating customer demand. However, Weiss cautioned that the upcoming lockup expiration could weigh on CRWV stock in the near term.
Likewise, Goldman Sachs analyst Kash Rangan raised his price target for CoreWeave stock to $120 from $61 and reaffirmed a Hold rating. The 4-star analyst expects CoreWeave to report revenue growth of 173% for Q2 2025, compared to the consensus estimate of 174%, capital expenditure of $3.2 billion, and operating margin of 14% compared to the consensus forecast of 15%.
Rangan noted that the infrastructure buildout is lasting longer than the market initially expected, with companies like Oracle (ORCL) and Microsoft continuing to invest aggressively. He also highlighted that CoreWeave continues to sign large customers and rapidly expand capacity. Despite these positives, Rangan cautioned that customer concentration risk remains significant, particularly after the signing of an additional $4 billion deal with ChatGPT-maker OpenAI. He also pointed out that depreciation continues to weigh down margins, and debt is expected to “remain elevated for the foreseeable future.” Rangan awaits more evidence of revenue durability and a sustainable return on capex investments before turning positive on CRWV stock.
Here’s What Options Traders Anticipate Ahead of CRWV’s Q2 Earnings
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting about a 19% move in either direction in CRWV stock in reaction to Q2 results.
Is CRWV a Good Stock to Buy?
Overall, Wall Street has a Hold consensus rating on CoreWeave stock based on six Buys, 13 Holds, and two Sell recommendations. The average CRWV stock price target of $107.59 indicates about 17% possible downside from current levels.
