CoreWeave Earnings Report Institutional Outlook Summary: Overall Positive, 5 Institutions Raise Price Targets

August 12th, in response to AI-focused cloud services provider CoreWeave's Q2 performance (revenue of $2.575 billion, a YoY growth of 112%), Wall Street analysts overall maintained a constructive view, believing that the company's performance exceeded expectations mainly due to the strong growth in AI infrastructure demand and margin improvement.

Five analysts raised their price targets: Wells Fargo to $160 (Hold rating), Piper Sandler to $153 (Hold rating), Baird to $130 (Outperform rating), emphasizing net new active megawatt growth, strong Q3 bookings, and diversification of enterprise-level AI applications.

JPMorgan and Mizuho maintained Neutral ratings and slightly raised their price targets to $120 and $115, with analysts noting the improvement in Q2 margins but highlighting continued uncertainty in short-term revenue upside.