CoreWeave Imploded 20% Over 6 Months: This Analyst Predicts It Will Triple in Price Over the Coming Year

The balance sheet magnifies every concern. Debt-to-equity stands at 8.94 and interest coverage is negative. A securities fraud class action claiming hid data center construction delays adds another overhang.

Why 31 of 42 Analysts Still Say Buy

The bull case rests on revenue visibility. CoreWeave added more than $25B of new customer commitments early in the third quarter. Its contracts include a $21B hyperscaler commitment, about $22.4B from OpenAI and a multi-year Anthropic agreement. Rosenblatt’s $250 thesis points to three factors: exclusive early access to NVIDIA supply, locked-in multi-year backlogs, and power capacity secured while rivals face grid bottlenecks.

Operating leverage is starting to show. Operating cash flow swung to +$679M from -$251M. Adjusted EBITDA reached $1.51B, a 59% margin. Active power stands at 1.5 GW against 3.7 GW under contract. CoreWeave also closed a $2B investment from NVIDIA and earned a spot in the NASDAQ-100. The CEO said “our scale began to translate into expanding operating leverage.”

Of 42 analysts, 31 rate the stock a Buy. The full breakdown:

• Strong Buy: 8

• Buy: 23

• Hold: 8

• Sell: 2

• Strong Sell: 1

Earnings estimates tell a more conservative story. The average 2027 EPS estimate has slipped to -$4.3252 from -$3.3687 90 days ago. Forecasts for 2027 revenue range from $21.1B to $31.03B. Analysts expect losses to continue through 2027, so price targets are one input, and they guarantee nothing.

AI Infrastructure Peers Slid Together, and Two Smaller Names Show Bigger Gaps

The whole group sold off over the past month, so CoreWeave’s drop reflects sector pressure as well as company-specific problems.

Nebius Group (NASDAQ:NBIS) fell 6.45% over the past month but is still up 150.95% year to date. At $210.06 against a $283.60 target, it offers 35.01% implied upside. 14 analysts rate it a Buy and 5 rate it a Hold. Its upside is smaller than CoreWeave’s.

IREN (NASDAQ:IREN) dropped 20.6% in a month and 41.78% over a year. At $34.80 against a $78.14 target, it offers 124.54% upside. It has 15 Buy ratings and no Sells.

Applied Digital (NASDAQ:APLD) fell 12% in a month. At $23.25 against a $64.03 target, it offers 175.4% upside. It has 13 Buy ratings and 2 Holds.

Applied Digital has the biggest consensus upside among these names. CoreWeave sits in the middle on consensus targets, and only Rosenblatt’s $250 call puts it at the top.

A Positive Year That Still Trails the S&P 500

CoreWeave is up 12.08% year to date, while the S&P 500 has gained 14.1%. Over one year, CoreWeave is down 42.02% while the index is up 19.15%.

The stock trades below its 50-day average of $88.43 and its 200-day average of $92.59. Its 52-week range runs from $60.55 to $150.40.

Backlog Says Yes, Balance Sheet Says Wait

The bull case improves if positive operating cash flow keeps growing and the $104B backlog converts on schedule. Risks grow if capital markets tighten, if its largest customers pull back, or if data center delays hurt revenue recognition.

The setup leans carefully positive. The backlog is real, but interest costs rising this fast leave little room for error.

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