CoreWeave price target lowered to $120 from $140 at Barclays

Barclays analyst Raimo Lenschow lowered the firm’s price target on CoreWeave (CRWV) to $120 from $140 and keeps an Equal Weight rating on the shares. The firm says the investment case “remains intriguing” with the company reporting over 130% year-over-year revenue growth and over $50B in remaining performance obligations in Q3. However, these numbers were mostly anticipated and the new information on the earnings call was the negative impact on Q4 results from a project delay, the analyst tells investors in a research note. Barclays believes this will likely limit the share price move in the short term.