Analyst Consensus ?
ConsensusBuy31 ratings
Bullish2167.8%
Neutral929.0%
Bearish13.2%
CoreWeave, Inc. Class A Common Stock · CRWV · FY2025 Q2 · Calendar Q3 2025
CoreWeave posts rapid growth as capacity and financing demands rise
The quarter supports the demand side of the growth case: management highlighted expanding AI adoption, large multi-year contracts, a $30.1 billion backlog, and raised full-year revenue guidance. The counterweight is execution intensity—capacity, power, acquisitions, debt, and capex must translate into revenue without disproportionate margin or financing pressure.
Reported After market closeNASDAQTechnology
$44.78B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-0.27
Consensus $-0.23
EPS surprise
-16.4%
Reported versus consensus
Reported revenue
$1.21B
Consensus $1.08B
Revenue surprise
+12.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-20.8%
Event window
SPY move
+0.3%
Same window
Abnormal move
-21.2%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
-4.3%
Up to 20 sessions
CRWVSPY benchmark
Ask FN2 about CRWV FY2025 Q2
Transcript, numbers and history already loaded
Why did CRWV fall 20.8% after missing EPS estimates in FY2025 Q2?What changed in CRWV's guidance and outlook in FY2025 Q2?Give me the bull and bear case for CRWV after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, CoreWeave moved from a record first quarter and raised outlook to a still more scaled operating plan: Q2 analysis emphasizes $30.1 billion of backlog, more than 900 MW of targeted active power by year-end, additional financing, new infrastructure projects, and the proposed Core Scientific acquisition. Product plans also broadened to flexible capacity, spot compute, archive-tier storage, and expanded Weights & Biases services.
Guidance delta
Management raised full-year revenue guidance to $5.15–$5.35 billion, while continuing to describe an increasing capex outlook.
Key takeaways
- Management described AI demand as strong, with revenue up 107% year over year and backlog at $30.1 billion.
- Capacity expansion remains central, with plans for more data centers, additional products, and greater active power.
- The strategy adds vertical integration through Weights & Biases and the proposed Core Scientific acquisition.
- The principal tension is between contracted demand and the capital, power, and financing required to deliver it.
Management priorities
- Expand AI cloud capacity and data-center footprint in the United States and Europe.
- Launch flexible-capacity, spot-compute, archive-storage, and expanded Weights & Biases offerings.
- Advance the Core Scientific acquisition and integrate additional infrastructure and software capabilities.
- Serve a broader mix of sovereign, enterprise, hyperscaler, and AI-startup customers.
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Analyst 52W Price Targets
$82.08Current
$58Low
$133.15Average
$250High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Freedom Capital Markets | Buy | Buy | Maintain | Oct 5, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Oct 2, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Oct 1, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Sep 24, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 24, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Aug 21, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 14, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 13, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 12, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 12, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Aug 12, 2026 |
| Macquarie | Outperform | Outperform | Maintain | Aug 12, 2026 |
| Bernstein | Underperform | Underperform | Maintain | Aug 12, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 12, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 21, 2026 |
| DA Davidson | Neutral | Buy | Downgrade | May 18, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Apr 29, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Mar 9, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | Mar 2, 2026 |
| Needham | Hold | Hold | Maintain | Feb 27, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Feb 27, 2026 |
| Deutsche Bank | Buy | Hold | Upgrade | Jan 27, 2026 |
| Loop Capital | Buy | Buy | Maintain | Nov 12, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Nov 11, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Nov 11, 2025 |
| Melius Research | Buy | Hold | Upgrade | Sep 23, 2025 |
| JMP Securities | Market Outperform | Market Perform | Upgrade | Sep 16, 2025 |
| MoffettNathanson | Neutral | Neutral | Maintain | Aug 19, 2025 |
| Argus Research | Buy | Buy | Maintain | Aug 14, 2025 |
| Stifel | Hold | Hold | Maintain | Aug 13, 2025 |
| Northland Capital Markets | Outperform | Outperform | Maintain | Jul 18, 2025 |
Named analyst price targets
Upside is calculated against the persisted current price $82.08. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Northland Securities | Analyst unavailable | $200 | $88.18 | +143.7% | Oct 7, 2026 |
| Rosenblatt Securities | John McPeake | $250 | $87.12 | +204.6% | Oct 1, 2026 |
| UBS | Analyst unavailable | $120 | $86.76 | +46.2% | Sep 22, 2026 |
| BTG Pactual | Analyst unavailable | $125 | $85.66 | +52.3% | Sep 21, 2026 |
| Truist Financial | Arvind Ramnani | $165 | $83.84 | +101.0% | Aug 24, 2026 |
| Goldman Sachs | Gabriela Borges | $139 | $89.76 | +69.3% | Aug 21, 2026 |
| Roth Capital | Analyst unavailable | $145 | $111.16 | +76.7% | Aug 13, 2026 |
| Barclays | Analyst unavailable | $105 | $107.73 | +27.9% | Aug 13, 2026 |
| Truist Financial | Arvind Ramnani | $155 | $106.77 | +88.8% | Aug 12, 2026 |
| Piper Sandler | James Fish | $153 | $106.75 | +86.4% | Aug 12, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $176 | $109.92 | +114.4% | Aug 12, 2026 |
| Bernstein | Analyst unavailable | $74 | $107.96 | -9.8% | Aug 12, 2026 |
| Cantor Fitzgerald | Brett Knoblauch | $178 | $90.32 | +116.9% | Aug 12, 2026 |
| Wells Fargo | Michael Turrin | $160 | $90.32 | +94.9% | Aug 12, 2026 |
| Mizuho Securities | Gregg Moskowitz | $115 | $90.32 | +40.1% | Aug 12, 2026 |
| Robert W. Baird | Rob Oliver | $130 | $90.32 | +58.4% | Aug 12, 2026 |
| Deutsche Bank | Analyst unavailable | $150 | $85.33 | +82.7% | Aug 7, 2026 |
| Piper Sandler | James Fish | $151 | $85.76 | +84.0% | Aug 3, 2026 |
| Truist Financial | Analyst unavailable | $126 | $79.58 | +53.5% | Jul 21, 2026 |
| Robert W. Baird | Rob Oliver | $100 | $79.58 | +21.8% | Jul 21, 2026 |
| Jefferies | Brent Thill | $150 | $73.06 | +82.7% | Jul 21, 2026 |
| BNP Paribas | Analyst unavailable | $192 | $124.82 | +133.9% | Jun 2, 2026 |
| D.A. Davidson | Gil Luria | $100 | $101.3 | +21.8% | May 18, 2026 |
| Barclays | Analyst unavailable | $120 | $114.15 | +46.2% | May 11, 2026 |
| Deutsche Bank | Analyst unavailable | $135 | $116.18 | +64.5% | May 8, 2026 |
| Truist Financial | Analyst unavailable | $131 | $128.84 | +59.6% | May 8, 2026 |
| Wells Fargo | Michael Turrin | $155 | $128.84 | +88.8% | May 8, 2026 |
| Roth Capital | Analyst unavailable | $150 | $128.84 | +82.7% | May 8, 2026 |
| Mizuho Securities | Analyst unavailable | $110 | $128.84 | +34.0% | May 8, 2026 |
| Jefferies | Analyst unavailable | $160 | $125.43 | +94.9% | May 4, 2026 |
| Oppenheimer | Analyst unavailable | $150 | $105.53 | +82.7% | Apr 29, 2026 |
| Barclays | Analyst unavailable | $106 | $113.52 | +29.1% | Apr 20, 2026 |
| Cantor Fitzgerald | Brett Knoblauch | $156 | $118.69 | +90.1% | Apr 16, 2026 |
| Wolfe Research | Analyst unavailable | $150 | $118.69 | +82.7% | Apr 16, 2026 |
| Evercore ISI | Analyst unavailable | $150 | $118.42 | +82.7% | Apr 15, 2026 |
| Bernstein | Madison Rezaei | $67 | $110.27 | -18.4% | Apr 14, 2026 |
| Mizuho Securities | Analyst unavailable | $105 | $110.27 | +27.9% | Apr 14, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $149 | $92 | +81.5% | Apr 9, 2026 |
| Evercore ISI | Analyst unavailable | $120 | $74.41 | +46.2% | Mar 9, 2026 |
| MoffettNathanson | Nick Del Deo | $92 | $74.41 | +12.1% | Mar 9, 2026 |
| Deutsche Bank | Analyst unavailable | $140 | $98.31 | +70.6% | Jan 27, 2026 |
| Mizuho Securities | Gregg Moskowitz | $100 | $98.57 | +21.8% | Jan 26, 2026 |
| D.A. Davidson | Analyst unavailable | $110 | $100.94 | +34.0% | Jan 26, 2026 |
| Barclays | Analyst unavailable | $90 | $80.14 | +9.6% | Jan 12, 2026 |
| Goldman Sachs | Analyst unavailable | $86 | $80.14 | +4.8% | Jan 12, 2026 |
| Wells Fargo | Analyst unavailable | $125 | $77.18 | +52.3% | Jan 8, 2026 |
| Truist Financial | Analyst unavailable | $84 | $76.86 | +2.3% | Jan 6, 2026 |
| Jefferies | Brent Thill | $120 | $80.2 | +46.2% | Jan 5, 2026 |
| D.A. Davidson | Analyst unavailable | $68 | $79.32 | -17.2% | Jan 5, 2026 |
| Mizuho Securities | Analyst unavailable | $92 | $72.34 | +12.1% | Dec 16, 2025 |
| Roth Capital | Analyst unavailable | $110 | $85.75 | +34.0% | Dec 4, 2025 |
| Melius Research | Analyst unavailable | $140 | $105.61 | +70.6% | Nov 11, 2025 |
| Jefferies | Analyst unavailable | $155 | $105.61 | +88.8% | Nov 11, 2025 |
| Stifel Nicolaus | Ruben Roy | $120 | $105.61 | +46.2% | Nov 11, 2025 |
| Mizuho Securities | Gregg Moskowitz | $120 | $105.61 | +46.2% | Nov 11, 2025 |
| Evercore ISI | Analyst unavailable | $175 | $122.52 | +113.2% | Sep 30, 2025 |
| Melius Research | Ben Reitzes | $165 | $133.23 | +101.0% | Sep 23, 2025 |
| Wells Fargo | Michael Turrin | $170 | $133.23 | +107.1% | Sep 23, 2025 |
| Loop Capital Markets | Analyst unavailable | $165 | $121.39 | +101.0% | Sep 18, 2025 |
| Raymond James | Josh Beck | $130 | $120.47 | +58.4% | Sep 15, 2025 |
| Cantor Fitzgerald | Thomas Blakey | $116 | $91.39 | +41.3% | Aug 26, 2025 |
| Stifel Nicolaus | Ruben Roy | $115 | $159.7 | +40.1% | Jul 8, 2025 |
| Goldman Sachs | Kash Rangan | $61 | $65.77 | -25.7% | May 15, 2025 |
| Northland Securities | Nehal Chokshi | $85 | $65.77 | +3.6% | May 15, 2025 |
| D.A. Davidson | Gil Luria | $36 | $65.77 | -56.1% | May 15, 2025 |
| Stifel Nicolaus | Ruben Roy | $75 | $65.77 | -8.6% | May 15, 2025 |
| Morgan Stanley | Keith Weiss | $58 | $65.77 | -29.3% | May 15, 2025 |
| Deutsche Bank | Analyst unavailable | $45 | $38.51 | -45.2% | Apr 22, 2025 |
| Wells Fargo | Analyst unavailable | $41 | $38.51 | -50.0% | Apr 22, 2025 |
| Barclays | Analyst unavailable | $48 | $38.51 | -41.5% | Apr 22, 2025 |
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Start freeCompany context
Snapshot as of publicationCoreWeave, Inc. operates a specialized cloud computing platform designed to empower generative AI (GenAI) applications. It constructs the fundamental infrastructure necessary to manage intensive compute workloads for large enterprises. The company's comprehensive suite of offerings includes high-performance GPU and CPU compute resources, robust storage solutions, advanced networking capabilities, and fully managed services. Clients can choose from flexible virtual servers or powerful bare-metal options. Beyond core hardware, its platform integrates sophisticated tools like a fleet lifecycle controller, a node lifecycle controller, Tensorizer, and advanced observability features. CoreWeave's expertise also extends to specialized services, such as visual effects (VFX) and rendering, AI model training, AI inference, and "Mission Control." Originally incorporated in 2017 as Atlantic Crypto Corporation, the company rebranded to CoreWeave, Inc. in December 2019 and is headquartered in Livingston, New Jersey.
Historical context
All CRWV earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-11T13:40:44.315349+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-11T13:40:44.312544+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-11. For educational purposes only; not investment advice.