Analyst raises price target after Q2 revenue surges 112% to $2.58 billion and contracted backlog hits $104 billion.
Cantor Fitzgerald raised its CoreWeave price target to $178, citing 130% revenue growth, a $104 billion contracted backlog, and 59% adjusted EBITDA margins. The new target implies 65% upside from the current $107.73 share price.
CoreWeave reported Q2 2026 revenue of $2.58 billion, up 112.3% year over year, while revenue backlog reached $104 billion. The stock has fallen 27.58% over the past year, underperforming the S&P 500, after a Q1 2026 earnings miss and a Q4 2025 securities fraud lawsuit.
Peers Iris Energy and Applied Digital trade at even wider gaps to analyst targets, with implied upside of 87% and 139%, respectively. CoreWeave provides NVIDIA GPU capacity for AI infrastructure and has become a key AI cloud play since its March 2025 Nasdaq listing.