Citizens reiterated its “Market Outperform” rating on CoreWeave (NASDAQ: CRWV) on November 11 and maintained a $180 CoreWeave stock price target for the next 12 months.
The firm’s forecast suggests roughly 270% upside potential from the last closing price of $48.73 and comes as CoreWeave’s third-quarter results showed improving profitability amid infrastructure scaling efforts.
Management reported revenue jumping 168% in the third quarter from about $1.36 billion a year earlier, while gross profit margins reached 67%. Citizens also noted that pricing continues to rise across new and old-generation infrastructure alike.
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As a result, CRWV shares are up 11% in pre-market trading at the time of writing, hovering around $54.
CoreWeave stock price target raised on AI demand
The company’s backlog continues to expand alongside faster infrastructure deployments. Demand through the end of 2027 is approximately 10 times greater than available capacity, while demand for 2028 already exceeds supply several times over.
However, Citizens cautioned that substantial capital requirements and financing costs remain important considerations. CoreWeave carries a significant debt burden, with its debt-to-equity ratio standing at 10.27. The firm’s $180 price target thus implies an enterprise value-to-revenue multiple of approximately 3 times projected 2028 revenue.
Nonetheless, CoreWeave’s earnings results have also helped revive investor enthusiasm for artificial intelligence (AI) stocks, with markets looking past growing expectations of further Federal Reserve interest rate increases.
Perhaps more importantly, the company said it expects to become profitable in 2028, easing some concerns about whether demand will be sufficient to support its debt-funded infrastructure expansion. Investors responded positively, and the results lifted broader technology sentiment, with NASDAQ 100 futures gaining 1.73% and S&P 500 futures advancing 0.77%.
Wall Street CoreWeave consensus
Currently, Wall Street sees CRWV shares rallying 143% on average over the next year, as the average CoreWeave forecast 2027 sits at $118.57, per TipRanks calculations.
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The highest predicted price is $200, while the lowest one is just $39. With 20 “Buy,” five “Hold,” and three “Sell” ratings, the company is rated a “Moderate Buy.”
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