CoreWeave (CRWV) Stock: Analyst Price Targets Cut After Q4 Miss on EPS

TLDR

• CoreWeave stock dropped 18.5% after Q4 results on February 27
• Revenue hit $1.57B, up 110% year-over-year, but Q1 guidance missed estimates
• Net loss ballooned to $284M in Q4, up from $36M a year ago
• Revenue backlog quadrupled to $66.8B, including a ~$5B Meta contract
• 2026 capex guidance of $30B–$35B, double last year’s $14.9B

CoreWeave (CRWV) stock got hit hard after its Q4 earnings report, falling 18.5% on February 27. The drop came despite strong revenue numbers, as investors focused on rising costs and weak forward guidance.

CoreWeave, Inc. Class A Common Stock, CRWV

Q4 revenue came in at $1.57 billion, a 110% jump from a year ago and slightly above the $1.53 billion estimate. But the net loss widened sharply — from $36 million to $284 million in the same quarter.

Loss per share came in at $0.89, well above the $0.50 consensus estimate. The adjusted operating margin also fell to around 6%, down from 16% a year ago.

The company’s revenue backlog grew from $15.1 billion to $66.8 billion, a near fourfold increase. That includes a new contract with Meta worth around $5 billion.

That decision comes with a cost. CoreWeave is projecting capital expenditure of $30 billion to $35 billion in 2026, up from $14.9 billion in 2025. The spending is driven by Nvidia chip purchases, data center construction, and energy costs.

CFO Nitin Agrawal said all of the capital spending is tied to already-signed customer contracts. Intrator added that Q1 would be “the low point” for margins before things improve.

Analysts Cut Targets

Most analysts maintained Hold ratings after the results. JPMorgan’s Mark Murphy cut his price target from $110 to $90, pointing to Q1 guidance that came in well below consensus and an investment cycle that was “more pronounced than expected.”

Mizuho’s Gregg Moskowitz also kept a Hold, trimming his target from $100 to $95. Stifel’s Ruben Roy lowered his to $110 from $120, noting the company accelerated investment in Nvidia’s Blackwell and Rubin chips. Active data center power jumped from 590MW to 850MW in the quarter.

Roy said he wants to see proof of improvement before turning bullish. The capex push is securing future revenue, but it is hurting short-term margins.

D.A. Davidson’s Alexander Platt stood apart from the crowd. He raised his price target from $110 to $125 and kept his Buy rating, arguing that getting capacity online fast is the key metric in the AI infrastructure race. Cantor Fitzgerald also kept an Overweight rating with a $131 target.

Insider Sale and Debt Picture

On February 26 — the day before the stock dropped — CoreWeave’s General Counsel Kristen J. McVeety sold 2,601 Class A common stock at prices between $95.77 and $100.40, netting $261,554. The sale was made under a pre-arranged trading plan from May 2025. She still holds 120,079 shares.

The company carries around $14 billion in debt. Management said it expects to reduce its weighted average cost of capital over time as it scales.

CoreWeave finished 2025 with 850 megawatts of active power across 43 data centers, with 3.1 gigawatts of contracted capacity expected to come online mostly by 2027.

For Q1, the company projected revenue between $1.9 billion and $2.0 billion. That was short of the $2.29 billion analysts had expected.

On TipRanks, CRWV holds a Moderate Buy consensus from 11 Buy and 8 Hold ratings, with an average price target of $114.18.

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