TLDR
- Wells Fargo maintains its Overweight stance on CoreWeave (CRWV) with a $125 price objective before Q4 results drop on February 26
- Projected Q4 revenue of $1.57B exceeds the $1.56B Street consensus and approaches the upper end of company guidance
- The company has exceeded revenue projections in all quarters post-IPO, although beat magnitudes have narrowed sequentially
- More than 1 gigawatt of secured capacity awaits commercialization, with the Poolside agreement alone projected to generate approximately $1B in yearly revenue
- Roth Capital maintains a Buy rating with $110 target, highlighting Meta/OpenAI datacenter expansion and GB300 cluster deployment as growth drivers
CoreWeave prepares to unveil its fourth-quarter fiscal 2025 financial performance after trading concludes on February 26, drawing significant attention from the investment community.
CoreWeave, Inc. Class A Common Stock, CRWV
Wells Fargo’s Michael Turrin maintained his Overweight recommendation and $125 price objective on the shares before the results announcement. His central thesis: existing projections might underestimate actual demand dynamics.
Turrin’s model points to Q4 revenue of approximately $1.57 billion. This figure marginally exceeds the Wall Street consensus of $1.56 billion and lands near the upper boundary of CoreWeave’s guidance spanning $1.49 billion to $1.59 billion.
CoreWeave has surpassed revenue forecasts every quarter following its public debut. However, the magnitude of these outperformances has diminished progressively — from 15% in Q1 to 10% in Q2, settling around 5% in Q3. Turrin anticipates a comparable outcome for this reporting period.
Shares are currently changing hands near $89.25, while the consensus analyst price objective stands at $118.57, suggesting approximately 33% appreciation potential from present levels. Over the trailing twelve months, CRWV has surged more than 140%.
Capacity and Deals in Focus
A critical metric under investor scrutiny is remaining performance obligations, or RPO — essentially contracted revenue yet to be recognized.
CoreWeave’s chief executive has already disclosed that the organization exceeded its previous 850-megawatt power objective. During the Q3 earnings discussion, leadership revealed that over 1 gigawatt of its 2.9 gigawatts of secured capacity remained uncommitted to customers, with deployment anticipated within the next 12 to 24 months.
This capacity pipeline carries significance. Additional available infrastructure translates to expanded opportunities for new contract signings.
Throughout Q4, CoreWeave unveiled partnerships with artificial intelligence companies Runway and Poolside. The Poolside arrangement encompassed over 40,000 GPUs. Wells Fargo’s analysis suggests this single agreement represents roughly $1 billion in annualized revenue and 80 megawatts of power consumption.
If this assessment proves accurate, it indicates demand momentum may not be adequately reflected in present forecasts — which underpins Turrin’s questioning of whether upward estimate revisions are warranted.
Other Analyst Views
Roth Capital similarly expresses optimism heading into the earnings release. The firm maintained its Buy recommendation and $110 price objective, referencing Meta and OpenAI datacenter developments, the GB300 cluster deployment, and anticipated software announcements surrounding Nvidia’s GTC conference as immediate growth catalysts.
Citizens carries a Market Outperform rating with a $180 target, emphasizing CoreWeave’s GPU-as-a-Service market position and a revenue backlog purportedly surpassing $56 billion.
Skepticism exists within the analyst community. HSBC holds a Reduce rating and recently lowered its price target to $41, expressing concerns regarding escalating interest expenses and expanding credit default spreads.
Wells Fargo noted that recent Friday news flow generated questions surrounding 2027 demand outlook that management will likely need to clarify during the earnings conference call.
CoreWeave’s consensus rating on TipRanks is Moderate Buy, based on nine Buy ratings and eight Holds.
The Q4 financial results will be released after market close on February 26.
