CoreWeave (NASDAQ:CRWV) Releases Earnings Results, Beats Estimates By $0.50 EPS

CoreWeave (NASDAQ:CRWV) posted its earnings results on Tuesday. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.50, FiscalAI reports. CoreWeave had a negative return on equity of 59.42% and a negative net margin of 25.56%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the company earned ($0.22) EPS. The company’s quarterly revenue was up 168.2% compared to the same quarter last year.

Here are the key takeaways from CoreWeave’s conference call:

• Revenue rose 168% year over year to $3.7 billion, while adjusted operating income reached $379 million and margin expanded to 10%. CoreWeave raised its 2026 revenue guidance to $13 billion–$13.3 billion and expects to exit the year at a $20 billion–$21 billion annualized run rate.
• Revenue backlog reached approximately $133 billion, and active power exceeded 1.7 GW. Management cited strong demand and higher pricing, including more than $40 million per megawatt annually for some short-term capacity, though it said it is pacing new commitments carefully.
• CoreWeave said its older GPU fleet is being re-contracted at premiums, with more than 130,000 GPUs coming off contract in 2027 and about 170,000 in 2028. At current pricing, management estimates those renewals could generate nearly $4 billion and $10 billion, respectively, in incremental annualized revenue without additional CapEx; these are estimates, not secured revenue.
• The business remains capital-intensive: Q3 CapEx was $14.5 billion, full-year guidance is now $37 billion–$39 billion, and the company reported a $709 million net loss with $846 million of interest expense. Management expects adjusted net income to turn positive in the first half of 2028 and said it expects less than $5 billion in additional parent-level capital through 2027, relying mainly on secured financing, customer prepayments and cash flow.

CoreWeave Trading Down 6.7%

CRWV traded down $4.06 during trading on Thursday, reaching $56.71. The company had a trading volume of 79,132,835 shares, compared to its average volume of 33,291,664. The stock has a market cap of $26.02 billion, a P/E ratio of -12.07 and a beta of 7.71. The business has a 50 day simple moving average of $73.71 and a 200-day simple moving average of $89.28. CoreWeave has a 52 week low of $40.58 and a 52 week high of $138.25. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 5.53.

Top CoreWeave Stories

These are some of the CRWV stories that stood out recently:

• Positive Sentiment: Strong growth and outlook: Third-quarter revenue rose 168% year over year to $3.66 billion, beating estimates; the loss per share was also narrower than expected. CoreWeave raised its 2026 revenue outlook to $13.0–$13.3 billion and reported a $132.5 billion backlog, reinforcing evidence of robust AI-computing demand. Zacks earnings report
• Positive Sentiment: Funding plan may ease concerns: Customer prepayments and contract-backed borrowing are intended to help finance expansion; reports also say the company is preparing a roughly $4 billion investment-grade loan. These steps could reduce reliance on more expensive financing, though the plan is still developing. Loan financing report
• Neutral Sentiment: Analyst views are mixed: Argus cut its price target to $100 but kept a Buy rating, reflecting continued upside expectations alongside a more cautious valuation. Argus rating update

Insider Activity

In other CoreWeave news, insider Brannin Mcbee sold 144,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $106.08, for a total transaction of $15,275,520.00. Following the transaction, the insider owned 323,263 shares in the company, valued at $34,291,739.04. The trade was a 30.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael N. Intrator sold 200,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $95.72, for a total transaction of $19,144,000.00. Following the completion of the sale, the chief executive officer directly owned 1,676,815 shares in the company, valued at approximately $160,504,731.80. This represents a 10.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,727,018 shares of company stock valued at $337,495,407 over the last ninety days. 24.20% of the stock is owned by corporate insiders.

Institutional Trading of CoreWeave

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWV. Alyeska Investment Group L.P. lifted its stake in CoreWeave by 55.7% in the second quarter. Alyeska Investment Group L.P. now owns 10,891,267 shares of the company’s stock worth $1,084,117,000 after purchasing an additional 3,897,741 shares during the last quarter. State Street Corp raised its holdings in shares of CoreWeave by 9.6% in the third quarter. State Street Corp now owns 7,739,510 shares of the company’s stock worth $674,266,000 after buying an additional 680,664 shares during the period. Bank of America Corp DE lifted its stake in shares of CoreWeave by 13.1% during the 1st quarter. Bank of America Corp DE now owns 5,652,129 shares of the company’s stock worth $437,870,000 after acquiring an additional 653,398 shares during the last quarter. Amundi lifted its stake in shares of CoreWeave by 266.2% during the 1st quarter. Amundi now owns 3,284,121 shares of the company’s stock worth $254,421,000 after acquiring an additional 2,387,337 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of CoreWeave by 32.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,909 shares of the company’s stock worth $199,410,000 after acquiring an additional 555,128 shares during the last quarter.

Analysts Set New Price Targets

CRWV has been the topic of a number of recent research reports. Rothschild & Co Redburn began coverage on shares of CoreWeave in a research note on Monday, September 21st. They set a “sell” rating and a $54.00 price target on the stock. Roth Capital set a $145.00 target price on shares of CoreWeave in a report on Thursday, August 13th. William Blair initiated coverage on shares of CoreWeave in a research report on Wednesday, September 30th. They set an “outperform” rating on the stock. Citigroup upped their target price on shares of CoreWeave from $128.00 to $149.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised shares of CoreWeave from a “neutral” rating to a “buy” rating and set a $106.00 price target for the company in a report on Monday, October 19th. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CoreWeave has an average rating of “Moderate Buy” and an average target price of $118.14.

About CoreWeave

CoreWeave is a cloud computing company that provides infrastructure for artificial intelligence, machine learning, and other compute-intensive workloads. Its services include access to graphics processing units (GPUs), cloud storage and networking, and software tools for deploying and managing workloads. The company was founded in 2017 as a cryptocurrency mining business and later shifted its focus to cloud computing. CoreWeave is headquartered in Livingston, New Jersey, and operates data center infrastructure in the United States and Europe, serving customers that need large-scale computing resources.