Key Stats for CoreWeave Stock
- 52-Week Range: $60.55 – $153.20
- Current Price: $91.90
- Street Target Price (Mean): ~$138
- NTM EV/Revenues: ~5x
- 1-Yr Return: -13.3%
- Market Cap: ~$50B
- Fwd 2-Yr Revenue CAGR: ~121%
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A $100 Billion Backlog and Revenue Growing 112% Per Year
Think of CoreWeave (CRWV) as the landlord of the AI boom. The company builds and operates data centers packed with GPU clusters, the specialized chips that AI companies need to train and run their models, and rents that capacity out under long-term contracts. Nvidia, Anthropic, Microsoft, and dozens of AI-native companies all depend on infrastructure like this.
CoreWeave’s edge is that its facilities are purpose-built for AI workloads from the ground up, using liquid cooling and high-density rack configurations that general-purpose data centers simply were not designed to support.
Q1 2026 results underscored just how fast this market is moving. Revenue hit $2.08 billion, up 112% from $982 million a year earlier, and came in well ahead of expectations. The revenue backlog, signed contracts not yet recognized as revenue, reached nearly $100 billion, a number that would represent years of current-level revenue if it all converted.
CEO Michael Intrator called it the company’s “strongest bookings quarter in history” and said CoreWeave is on track to exceed 8 gigawatts of active power capacity by 2030, up from 1 gigawatt today.
The revenue chart makes the trajectory immediately clear.
Quarterly revenue has climbed from $1.21 billion in mid-2025 to $2.08 billion in Q1 2026, and consensus estimates see it reaching $5.79 billion by mid-2027. Nearly tripling revenue within 12 months is uncommon at this scale.
Customer relationships with Anthropic, Cohere, Mistral, Perplexity, and others suggest the demand is real and diversified beyond any single client.
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What Analysts Think, and Why the History Is Complicated
With 21 buys, 6 outperforms, and a mean price target of around $138 against the current price of $91.90, Wall Street’s view is broadly optimistic. The implied upside of roughly 50% has attracted significant institutional attention since the IPO.
Worth understanding, though, is how that target has evolved. When CoreWeave traded at $163 shortly after going public, the analyst consensus target was only around $85, meaning analysts were actually more cautious than the market at the highs.
Targets have since risen as the business has proven itself operationally, and the stock has fallen back below those same targets. The low target sits at $36, and the high reaches $303, a spread that reflects genuine disagreement about what this business is ultimately worth once the capital cycle matures.
The financial picture is not simple. Q1 capex came in at $7.7 billion, more than three times the revenue generated in the same period. The company carried $32.9 billion in net debt at a leverage ratio of 7.4 times EBITDA. Net loss was $740 million in Q1, and CoreWeave is relying on continued access to capital markets to fund the buildout.
The gross margin of 69.4% is genuinely impressive for a capital-intensive infrastructure business, and the deferred revenue balance of $2.13 billion represents contracted future cash, but the gap between cash spent and cash received is enormous in the near term.
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Owning This Stock Requires a Strong Stomach
The drawdowns chart tells investors something the backlog numbers cannot: this is not a stock that moves gradually.
Since going public in March 2025, CoreWeave has experienced multiple 25-30% declines, recovered each time fully, and then entered the deepest sell-off of its public life in recent weeks, peaking at nearly 56% in late July before a partial recovery to-33% currently.
A beta of 2.95 on a stock this young means sentiment, AI infrastructure narratives, and capital market conditions can move it violently regardless of what the underlying operations are doing. The current drawdown is happening alongside a Q1 earnings beat and a backlog that has never been larger.
That disconnect between price action and business fundamentals is the defining feature of owning early-stage infrastructure companies at this stage of the cycle.
Should You Buy CoreWeave Stock?
CoreWeave’s business is real, the demand is documented in the contracted backlog, and the revenue growth rate is almost without parallel among public companies at this scale. The risks are equally tangible: enormous debt, negative free cash flow, customer concentration concerns, and a volatility profile that will test most investors long before the thesis plays out.
Anyone considering a position should think carefully about sizing first. The potential upside is meaningful, but the path from here to there will almost certainly include more of the drawdowns this chart already shows.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
