CoreWeave (CRWV) reported "very solid" Q1 results and announced a new $4 billion deal at the start of Q2 that would likely translate to higher revenue, Deutsche Bank said in a note Thursday.
The Nvidia-backed (NVDA) artificial intelligence cloud computing company, which went public in March, posted Q1 revenue of $981.6 million, beating Deutsche Bank's estimate of $853 million.
Deutsche Bank said it raised its full year 2025 and 2026 revenue estimates by 10% and 4%, respectively, but said the investments needed to fund expansion would lead to greater capital expenditures and interest expense.
"While a good problem to have (for now), near-term profitability is depressed by the cost of serving incremental demand," the bank said, citing its "negative revision" of its cumulative net income estimate for 2025 and 2026 by about $800 million.
Deutsche Bank has a hold rating and $50 price target on the stock.
Price: 71.30, Change: +3.84, Percent Change: +5.69
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