CoreWeave (NASDAQ: CRWV) reported Q2 revenue growth of 210.3% year-over-year, reaching $1.21 billion, driven by increased demand from AI labs and enterprises. However, the adjusted net loss widened, with a 600 basis point contraction in operating margin. The company projects ongoing strength, raising its Q3 and full-year revenue guidance beyond previous estimates.
Despite a 132% increase in share count year-over-year and a 37% rise in long-term debt, CoreWeave’s balance sheet remains healthy, with total assets increasing by $8.4 billion. Analysts currently maintain a ‘Hold’ rating, and while sentiment is firm, a price correction is anticipated, with the consensus target between $100 to $110, indicating potential downside from early August highs.
The stock experienced a nearly 10% pullback in premarket trading following earnings, with critical support near the 30-day EMA at $125. A move below this level may lead to retesting August lows around $100.
