CoreWeave Up 142% Since IPO with $4B Revenue and Feb. 26 Earnings
CoreWeave shares have surged 142% since its March 2025 IPO, and 31 analysts average a $127.27 price target implying 31% upside ahead of its Feb. 26 Q4 earnings call. Trailing 12-month revenue exceeded $4 billion after Q3’s 134% year-over-year jump to $1.36 billion, although Microsoft accounted for 62% of 2024 sales.
1. Stock Performance and Analyst Outlook
Since its March 28, 2025 IPO, CoreWeave shares have climbed 142%, and a consensus of 31 analysts rates the stock a Moderate Buy with an average 12-month target of $127.27, suggesting roughly 31% upside. Current short interest stands at 8.53%, while institutional investors have net purchased $4.14 billion over the past year.
2. Revenue Growth and Customer Concentration
On a trailing 12-month basis, CoreWeave generated over $4 billion in revenue, driven by a 134% year-over-year increase to $1.36 billion in Q3. The company also carries a $56 billion revenue backlog, but faces concentration risks: Microsoft represented 62% of 2024 sales, and OpenAI contracts exceed $22 billion.
3. NVIDIA Partnership and Product Innovation
NVIDIA has invested an additional $2 billion in CoreWeave Class A shares to help build out more than 5 GW of AI factories by 2030, reinforcing CoreWeave’s position as a GPU-as-a-Service provider. The recent launch of CoreWeave ARENA offers production-scale AI evaluation with faster training and lower costs, positioning the company for next-generation cloud workloads.