TLDR
- CoreWeave reports Q1 2026 earnings on May 7, with analysts expecting revenue of around $1.97 billion — up over 100% year-over-year.
- Options markets are pricing in a roughly 17% swing in CRWV stock following the report.
- Wall Street expects a wider loss per share of $0.91, compared to a $0.60 loss in the same quarter last year.
- Jefferies raised its price target to $160 and kept a Buy rating, citing a $21 billion Meta contract and a $6 billion Jane Street deal.
- Vanguard is the largest institutional holder of CRWV, and the stock is up 75% year-to-date.
CoreWeave reports its first-quarter 2026 results on Wednesday, May 7. Heading into the print, the stock is up 75% this year and has more than doubled since its IPO debut.
CoreWeave, Inc. Class A Common Stock, CRWV
CRWV is trading around $125 ahead of the report. That puts it just below the average analyst price target of $133.21, implying about 5.9% upside from current levels.
Revenue is expected to come in at around $1.97 billion for the quarter, representing growth of more than 100% year-over-year. That kind of top-line acceleration is rare outside of AI infrastructure, and it’s a big part of why the stock has been so closely watched.
On the earnings side, Wall Street is braced for a wider loss. Analysts forecast a loss per share of $0.91, compared to a loss of $0.60 in Q1 2025. The company continues to invest heavily in building out its GPU-based infrastructure, which is compressing margins.
Last quarter, CoreWeave posted revenue growth of about 110% year-over-year, hitting $1.6 billion. Annualised revenue crossed $5 billion, though margins hovered near 6% due to the pace of infrastructure spending.
What the Options Market Is Saying
Options traders are pricing in a move of roughly 17% in either direction following the earnings release. That’s a wide band, but not unusual for a stock this young with a business growing this fast.
The implied move reflects genuine uncertainty. CoreWeave has executed well so far, but the market wants to see whether that growth is sustainable and whether deal flow is holding up.
Jefferies raised its price target to $160 from $120 ahead of the report. The firm kept its Buy rating and pointed to rising remaining performance obligations, which it expects to exceed $95 billion with new deals added.
Key Contracts in Focus
Two deals are likely to draw attention on the earnings call. CoreWeave reportedly signed a $21 billion contract with Meta and a $6 billion agreement with Jane Street. These commitments, if confirmed or expanded, would substantially de-risk the revenue outlook.
Jefferies specifically cited these contracts as the basis for its more bullish stance, saying they improve visibility on future revenue tied to Nvidia-linked AI demand.
Wall Street overall sits at a Moderate Buy on CRWV, with 11 Buy ratings and four Holds. No analyst currently has a Sell rating.
On the ownership side, Vanguard Index Funds holds roughly 5.84% of the company, making it the largest institutional holder. Vanguard’s broader funds hold additional positions. Board member Jack D. Cogen holds approximately 3.42%.
Public companies and individual investors account for nearly 75% of CRWV’s ownership. ETF ownership includes around 2.08% held by the Vanguard Total Stock Market ETF and 1.41% by the Vanguard Mid-Cap ETF.
The consensus price target of $133.21 sits below Jefferies’ revised $160 target, suggesting some analysts may move their numbers higher if the Q1 results come in strong.
CoreWeave reports after the bell on May 7.
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