COREWEAVE, INC. (CRWV)

NASDAQInformation TechnologySoftware - InfrastructureSnapshot 2026-10-23

$54.24-2.45%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge COREWEAVE, INC.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	4.69B
EPS	—	-0.703
Annual ending 2026-12-31
Revenue	—	12.82B
EPS	—	-4.13
Annual ending 2027-12-31
Revenue	—	26.5B
EPS	—	-2.032

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Manage debt and capital to support AI expansion	Debt raised supports AI expansion and future growth.	Under Pressure	Debt growth harms financial health or halts AI expansion	Debt insurance cost +200% vs stable target Debt insurance costs nearly tripled. HSBC warns of structural risks and value destruction. New robotics/EV workloads announced but low impact. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Cash from operations to stay above $2.9 billion quarterly	Cash from operations rose strongly to $2.984 billion in Q1.	Broken	cash from operations falls below $2.9 billion	Cash from operations: $679M FY2026-Q2; GAAP. Published target: >= $2.9 billion quarterly. Target period is not explicitly aligned with this observation. Source published Aug 12, 2026679,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating income to improve from current losses	A primary condition in COREWEAVE, INC.'s published investment case. The stated target is operating loss narrows from -$144 million.	Improving	operating loss worsens beyond -$144 million	Operating income: $-49M FY2026-Q2; GAAP. Published target: operating loss narrows from -$144 million. Target period is not explicitly aligned with this observation. Source published Aug 12, 2026-49,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: bb1b1b8a-8f97-42b7-9c63-2ce3e9f8fa2f. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth to sustain above $2 billion quarterly	A primary condition in COREWEAVE, INC.'s published investment case. The stated target is >= $2.078 billion quarterly.	Intact	quarterly revenue falls below $2 billion	Revenue: $2.575B FY2026-Q2; GAAP. Published target: >= $2.078 billion quarterly. Target period is not explicitly aligned with this observation. Source published Aug 12, 20262,575,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: bb1b1b8a-8f97-42b7-9c63-2ce3e9f8fa2f. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 of last 2 quarters. Revenue grew from $2.078B in 2026-Q1 to $2.575B in 2026-Q2 (+11.4%). Revenue backlog increased from $99.4B to approximately $104B in the same period. Management's statements and financials show delivering growth with accelerating customer demand and expanding operating leverage. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-2.03

$-1.31 → $-2.03 · observed estimates

FY2027 revenue$26.50B

$25.01B → $26.50B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-1.31	$25,011,008,587	14 / 26
2026-07-25	$-1.31	$25,011,008,587	14 / 26
2026-07-26	$-1.34	$25,015,320,099	14 / 27
2026-07-27	$-1.34	$25,015,320,099	14 / 27
2026-07-28	$-3.67	$25,125,677,430	17 / 35
2026-07-29	$-1.34	$25,015,320,099	14 / 27
2026-07-30	$-3.67	$25,125,755,640	17 / 35
2026-07-31	$-3.69	$25,135,536,440	17 / 35
2026-08-01	$-1.35	$25,025,452,528	14 / 27
2026-08-02	$-3.69	$25,135,536,440	17 / 35
2026-08-03	$-3.69	$25,135,536,440	17 / 35
2026-08-04	$-3.69	$25,135,536,440	17 / 35
2026-08-05	$-1.35	$25,025,452,528	14 / 27
2026-08-06	$-3.69	$25,156,465,990	17 / 36
2026-08-07	$-1.36	$25,050,125,313	14 / 27
2026-08-08	$-1.36	$25,050,125,313	14 / 27
2026-08-09	$-3.68	$25,144,546,660	17 / 36
2026-08-10	$-1.36	$25,050,125,313	14 / 27
2026-08-11	$-3.68	$25,144,546,660	17 / 36
2026-08-12	$-3.68	$25,144,546,660	17 / 36
2026-08-13	$-1.36	$25,050,125,313	14 / 27
2026-08-14	$-1.36	$25,050,125,313	14 / 27
2026-08-15	$-1.36	$25,050,125,313	15 / 28
2026-08-16	$-1.36	$25,050,125,313	15 / 28
2026-08-17	$-1.36	$25,050,125,313	15 / 28
2026-08-18	$-1.36	$25,050,125,313	15 / 28
2026-08-19	$-1.36	$25,050,125,313	15 / 28
2026-08-20	$-1.36	$25,050,125,313	16 / 29
2026-08-21	$-1.84	$26,476,713,750	16 / 29
2026-08-22	$-1.84	$26,476,713,750	16 / 29
2026-08-23	$-1.84	$26,476,713,750	16 / 29
2026-08-24	$-1.84	$26,476,713,750	16 / 29
2026-08-25	$-1.93	$26,476,713,750	16 / 29
2026-08-26	$-1.93	$26,476,713,750	16 / 29
2026-08-27	$-1.93	$26,476,713,750	16 / 29
2026-08-28	$-1.93	$26,476,713,750	16 / 29
2026-08-29	$-1.93	$26,476,713,750	16 / 29
2026-08-30	$-1.93	$26,476,713,750	16 / 29
2026-08-31	$-1.93	$26,476,713,750	16 / 29
2026-09-01	$-1.97	$26,532,955,331	16 / 29
2026-09-02	$-1.97	$26,532,955,331	16 / 29
2026-09-03	$-1.97	$26,532,955,331	16 / 29
2026-09-04	$-1.97	$26,532,955,331	16 / 29
2026-09-05	$-1.97	$26,532,955,331	16 / 29
2026-09-06	$-1.97	$26,532,955,331	16 / 29
2026-09-07	$-1.97	$26,532,955,331	16 / 29
2026-09-08	$-1.97	$26,532,955,331	16 / 29
2026-09-09	$-1.97	$26,532,955,331	16 / 29
2026-09-10	$-1.97	$26,532,955,331	16 / 29
2026-09-11	$-1.97	$26,532,955,331	16 / 29
2026-09-12	$-1.97	$26,532,955,331	16 / 29
2026-09-13	$-1.97	$26,532,955,331	16 / 29
2026-09-14	$-1.97	$26,532,955,331	16 / 28
2026-09-15	$-1.97	$26,532,955,331	16 / 28
2026-09-16	$-1.99	$26,598,436,350	16 / 28
2026-09-17	$-1.99	$26,566,037,420	16 / 28
2026-09-18	$-1.99	$26,566,037,420	16 / 28
2026-09-19	$-1.99	$26,566,037,420	16 / 28
2026-09-20	$-2.00	$26,562,446,265	16 / 27
2026-09-21	$-2.00	$26,562,446,265	16 / 27
2026-09-22	$-1.99	$26,557,166,160	16 / 28
2026-09-23	$-1.99	$26,607,006,281	16 / 28
2026-09-24	$-1.99	$26,607,006,281	16 / 28
2026-09-25	$-1.92	$26,624,763,038	17 / 29
2026-09-26	$-1.92	$26,624,763,038	17 / 29
2026-09-27	$-1.92	$26,479,374,537	17 / 30
2026-09-28	$-1.92	$26,479,374,537	17 / 30
2026-09-29	$-1.92	$26,479,374,537	17 / 30
2026-09-30	$-1.92	$26,479,374,537	17 / 30
2026-10-01	$-1.91	$26,478,821,344	18 / 30
2026-10-02	$-1.90	$26,478,837,823	18 / 30
2026-10-03	$-1.90	$26,478,786,541	18 / 31
2026-10-04	$-1.90	$26,478,786,541	18 / 31
2026-10-05	$-1.90	$26,478,786,541	18 / 31
2026-10-06	$-1.90	$26,478,786,541	18 / 31
2026-10-07	$-1.90	$26,485,478,849	18 / 31
2026-10-08	$-1.91	$26,512,017,310	18 / 31
2026-10-09	$-1.91	$26,512,017,310	18 / 31
2026-10-10	$-1.91	$26,512,017,310	18 / 31
2026-10-11	$-1.91	$26,512,017,310	18 / 31
2026-10-12	$-1.91	$26,512,017,310	18 / 31
2026-10-13	$-1.93	$26,512,010,400	18 / 31
2026-10-14	$-1.93	$26,512,010,400	18 / 31
2026-10-15	$-1.93	$26,512,010,400	18 / 31
2026-10-16	$-1.93	$26,555,176,274	18 / 31
2026-10-17	$-1.93	$26,555,176,274	18 / 31
2026-10-18	$-1.93	$26,555,176,274	18 / 31
2026-10-19	$-1.93	$26,555,176,274	19 / 31
2026-10-20	$-1.93	$26,555,189,095	19 / 31
2026-10-21	$-1.97	$26,688,408,659	19 / 31
2026-10-22	$-2.03	$26,688,408,659	19 / 31
2026-10-23	$-2.03	$26,496,198,442	19 / 31
2026-10-24	$-2.03	$26,496,198,442	19 / 31

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	23	11	2
2026-06-01	24	11	2
2026-07-01	26	11	2
2026-08-01	27	10	2
2026-09-01	31	10	3
2026-10-01	32	8	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 32 Buy / Strong Buy · 8 Hold · 3 Sell / Strong Sell

1 upgrades0 downgrades9 maintains

Recent actions · Sep 25–Oct 24 · 10 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

UBSOct 23 · prior Sep 22

$120.00 → $105.00-12.5%

Morgan StanleyOct 23

$70.00New observation · no comparable prior

Piper SandlerOct 21 · prior Aug 12

$153.00 → $124.00-19.0%

MoffettNathansonOct 19

$89.00New observation · no comparable prior

Goldman SachsOct 19 · prior Aug 21

$139.00 → $106.00-23.7%

BNP ParibasOct 19 · prior Jun 2

$192.00 → $117.00-39.1%

Mizuho SecuritiesOct 15 · prior Aug 12

$115.00 → $88.00-23.5%

Northland SecuritiesOct 7

$200.00New observation · no comparable prior

Rosenblatt SecuritiesOct 1

$250.00New observation · no comparable prior

$0$137.50$275.00

0 raises · 5 cuts · 0 unchanged · 4 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Manage debt and capital to support AI expansionPublished status: Under Pressure
Cash from operations to stay above $2.9 billion quarterlyPublished status: Broken
Operating income to improve from current lossesOperating income: $-49M
Revenue growth to sustain above $2 billion quarterlyRevenue: $2.575B

Next proof point

Nov 9, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

3.0%Typical daily move · historical

Downside history

-61.2%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

COREWEAVE, INC. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk growth business, not an established, profitable compounder. Its long-term thesis remains on watch: revenue, backlog, and capacity are expanding, but recent financial performance is weak and the overall signal has turned cautious.

What's priced into COREWEAVE, INC.

The evidence describes CRWV as cheap versus peers, with medium confidence in that comparison. The expectations gap is hard to judge from the snapshot, but weak results and a loss-making profile temper the apparent discount; no fragility gates were triggered.

What the fundamentals likely do

Near term, revenue and backlog growth, alongside expanding power capacity, show management making progress on growth and infrastructure priorities. Management has also raised substantial debt and equity financing to support expansion, while recent performance remains weak and earnings surprises have been trending down.

What COREWEAVE, INC. hinges on

Over the next one to three years, the thesis hinges on whether demand growth translates into better financial performance and whether the company can fund capacity expansion while strengthening its financial position. Near term, rate cuts and continued strength from major technology companies could support the sector backdrop; weaker results or guidance from those companies could remove that support.