Citi Recommends This Stock as a “Buy” Ahead of the Quarterly Report

Citi Remains Optimistic Ahead of CoreWeave’s Upcoming Earnings Report

In a note released Tuesday, the bank maintained its “buy” rating on the cloud computing company’s stock and raised its price target to $192 per share, up from the previous $164. This new forecast represents a potential 52% upside.

Analyst Tyler Radke notes that rising demand related to artificial intelligence is a positive driver for CoreWeave.

“In the short term, we see CRWV as one of the major AI beneficiaries among the companies we cover. With recently signed deals with NVDA, META, and the OpenAI expansion, we expect about an 85% increase in orders quarter over quarter,” he wrote. “With the rollout of Blackwell and its customers in Q4, we anticipate revenue acceleration by year-end and significant (~$100 million+) upside surprises.”

The analyst adds that demand appears likely to continue growing. He sees a “strong probability” of further acceleration next year thanks to a “safer strategy” resulting from management’s efforts to diversify its client base and secure longer-term contracts of five to six years.

“Our concerns about client concentration are easing as MSFT/OpenAI are now smaller contributors to orders, with the addition of META and NVDA (which will provide capacity for startups),” Radke wrote. “This, combined with strong results from AMZN, extremely robust short-term capital activity from MSFT, and ongoing capacity constraints, gives us confidence in the AI computing ecosystem.”

CoreWeave will release its third-quarter financial results after the market closes on Monday.

Given the strong AI demand and clear visibility of non-cancellable contracts, Radke expects CoreWeave to continue significantly exceeding revenue forecasts in the second half of the year, with potential upside exceeding $100 million. Toward late fiscal 2026 and beyond, the analyst forecasts “significant improvements in profitability.”

CoreWeave (CRWV) – Analyst Consensus

• 30 ratings
• 4 “Strong Buy”
• 14 “Buy”
• 12 “Hold”
• 3 “Underperform”
• 3 “Sell”

Current price: $115.75 (-10.57 / -8.37%)
High price target: $234.00
Average price target: $140.79 (upside potential 21.63%)
Low price target: $36.00

CoreWeave went public in March. Since its IPO, the stock has gained nearly 216%.