Citi is optimistic heading into CoreWeave's next earnings report next week. In a Tuesday note, the bank maintained its buy rating on the cloud computing stock and raised its price target to $192 per share from $164. This revised forecast represents upside of 52%. Analyst Tyler Radke pointed to rising artificial demand as a tailwind for CoreWeave. CRWV YTD mountain CRWV YTD chart "In the near term, we see CRWV as one of the larger AI beneficiaries across our coverage. With recent deals signed with NVDA, META and an OpenAI expansion, we estimate ~85% QoQ backlog growth," he wrote. "As Blackwell + customer ramps come online in 4Q, we expect a revenue reacceleration into year-end and outsized (~$100M+) revenue beats." The analyst added that it seems demand will only increase from here. He sees
Buy this AI cloud stock ahead of earnings, says Citi
CNBC Investing5 hrs ago
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