CoreWeave is Off 20% Over 3 Months: A Prominent Tech Analyst Expects 65% Gains This Cycle

CoreWeave (NASDAQ:CRWV) presently trades astatine $91.90 against a statement expert people of $138.03. That leaves astir 50% betwixt existent levels and Wall Street's view.

CoreWeave rents specialized GPU infrastructure to AI labs and hyperscalers. Since its March 2025 IPO, it has go the pure-play proxy for whether the AI capex rhythm tin prolong itself.

How the Q1 Report Broke Momentum

Shares are disconnected 33.4% implicit astir 3 months, ranking among the worst successful AI infrastructure. The catalyst was the May 7 Q1 2026 net release, with shares astatine $137.98 going in.

Revenue landed astatine $2.08 billion, up 111.7% twelvemonth implicit twelvemonth and beating statement by 5.8%. The bottommost enactment reversed that headline. Net nonaccomplishment widened to $740 cardinal from $315 cardinal a twelvemonth earlier, EPS missed astatine -$1.40 versus -$1.23 expected, involvement disbursal doubled to $536 million, and CapEx reached $7.70 cardinal successful a azygous quarter. Free currency travel ran to -$4.71 cardinal portion full liabilities climbed to $50.8 billion.

Damage compounded done summer. A securities fraud people enactment was filed implicit information halfway operation delays, the CEO sold astir $100 cardinal successful banal nether Rule 10b5-1 plans, and a July selloff followed Meta's announcement of its ain "Meta Compute" unreality service, which the marketplace work arsenic cannibalization risk.

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Why Piper Sandler's Harsh Kumar Still Sees $151

Piper Sandler's Harsh Kumar maintains a $151 terms people connected CoreWeave, implying astir 64% upside from existent levels. His AI hardware thesis rests connected 3 pillars: tier-one allocation of NVIDIA's Blackwell and Vera Rubin architectures, semipermanent GPU-as-a-Service backlog anchored by hyperscalers and AI labs, and operating leverage that expands EBITDA margins faster than depreciation arsenic clusters attack precocious utilization.

Revenue backlog reached $99.4 cardinal successful Q1, up astir 50% sequentially, including a $21 cardinal Meta commitment, an Anthropic multi-year woody for Claude, and expansions with OpenAI and Jane Street, and Hudson River Trading. Management reaffirmed full-year 2026 gross guidance of $12 cardinal to $13 cardinal and pointed to a 2027 annualized tally complaint of $30 cardinal oregon much with implicit 75% already contracted. Adjusted EBITDA deed $1.2 cardinal connected a 56% margin, and CFO Nitin Agrawal framed Q1 arsenic the trough of the borderline story.