CoreWeave Price Target Rises to $155 on 35–40% Backlog Growth Forecast
CoreWeave’s price target was increased by Citi to $155 from $126 following projections of 35%–40% quarterly backlog growth driven by hyperscalers, AI labs and enterprise clients. Next-gen hardware pricing and large deals ramping through 2027 could push CoreWeave toward a $30 billion annual recurring revenue goal.
1. Citi Raises Price Target to $155
Citi raised CoreWeave’s price target to $155 from $126 and affirmed a Buy rating, highlighting robust AI infrastructure demand and a diversified customer base.
2. Projected 35–40% Quarterly Backlog Growth
The firm forecasts backlog expansion of 35%–40% quarter-on-quarter driven by new orders from hyperscalers, AI labs and enterprise clients, reducing reliance on any single account.
3. Long-Term Revenue Goal Nears $30 Billion ARR
Large-scale contracts with hyperscalers like Meta are expected to ramp through 2027, potentially pushing CoreWeave toward a $30 billion annual recurring revenue milestone.
4. Upside from Hardware Pricing and Financing
Citi highlighted potential margin benefits from next-generation hardware pricing trends and noted that recent debt issuance could lower financing costs, while strategic acquisitions may further fuel growth.