CoreWeave (CRWV) Stock Jumps 8% as Wells Fargo and Oppenheimer Raise Price Targets

TLDR

• CRWV jumped ~8% Wednesday, recovering from Tuesday’s drop tied to an OpenAI revenue growth report
• CoreWeave pushed back, noting OpenAI is “not our only” client, pointing to Meta, Google, Microsoft, Anthropic and others
• Oppenheimer raised its price target to $150; Wells Fargo raised to $135, both maintaining bullish ratings
• ARK Investment bought ~$18.2M worth of CRWV on Tuesday, the largest trade of the day
• 23 of 36 Wall Street analysts rate the stock a Buy or Strong Buy; Q1 2026 earnings call set for May 7

CoreWeave bounced back sharply on Wednesday, gaining over 8% after Tuesday’s sell-off that was driven by a Wall Street Journal report on OpenAI’s slowing growth. The report raised concerns that OpenAI could struggle to pay for future computing contracts if revenue stays soft — a direct worry for CoreWeave, which counts OpenAI as a major client.

CoreWeave, Inc. Class A Common Stock, CRWV

CoreWeave moved quickly to calm investors. A company spokesperson stated that “OpenAI is a terrific partner, but not our only one.” The company pointed to a client list that includes Meta, Microsoft, Google, Anthropic, IBM, Perplexity AI, and Jane Street.

The message landed. Markets shrugged off Tuesday’s fears and pushed CRWV higher through Wednesday’s session.

Analysts Add Fuel

Two separate analyst upgrades helped accelerate the move. Oppenheimer kept its Outperform rating and raised its price target from $140 to $150. Wells Fargo kept its Overweight rating and lifted its target from $125 to $135.

Wells Fargo analyst Michael Turrin argued that CoreWeave locked in at least $63.9 billion in deals during Q1 2026, including multi-year contracts with Perplexity and OpenAI. Turrin also flagged that remaining performance obligations (RPOs) could be a catalyst once investors get a clearer look at the balance sheet.

The broader market wasn’t helping. The S&P 500 was flat, the Dow was down 0.49%, and the Nasdaq barely moved at +0.13%. Wednesday’s CRWV move was all company-specific.

On Tuesday, while the stock was selling off, ARK Investment bought 162,306 CRWV across its ARKK and ARKW ETFs — spending roughly $18.2 million. That was the largest trade of the day, and it stood out as a clear vote of confidence during the dip.

A Mixed Picture Under the Hood

The fundamentals tell a complicated story. CoreWeave reported revenue of $1.57 billion in its last quarter, up 110% year-over-year. That’s fast growth by any measure. But the company posted an EPS loss of $0.89, missing estimates of -$0.61, and carries a debt-to-equity ratio of 4.46.

Insiders have been selling heavily. Over the past quarter, insiders offloaded around 15.7 million shares worth approximately $1.62 billion. Insider Brian Venturo sold 1.125 million shares at $80.86 on April 6, cutting his position by nearly 80%. Major shareholder Magnetar Financial sold over 1.4 million shares at $118.30 on April 16.

On the other side, institutions have been buying. Vanguard increased its stake by 275.6% in Q4, now holding nearly 28 million shares. Deutsche Bank lifted its position by over 22,000% in the same period.

Street consensus sits at “Moderate Buy” with an average price target of $125.78. Of 36 analysts covering the stock, 23 rate it a Buy or Strong Buy, while two have Sell ratings.

CoreWeave’s Q1 2026 earnings call is scheduled for May 7, 2026.

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