Goldman Sachs has revised its price target for CoreWeave (CRWV, Financial), increasing it from $54 to $61, following the company's first-quarter performance. Despite maintaining a Neutral rating, the analyst Kash Rangan highlights that the stock has retained a 65% surge in value over the past month, even though earnings fell short of expectations. This suggests that investors are weighing the company's strong growth against a reduction in sequential remaining performance obligations (RPO).
While acknowledging the successful execution since CoreWeave's IPO, Goldman Sachs remains cautious, choosing to stay neutral until there is more consistent performance evidence. The firm's approach reflects a strategy of waiting for more robust indicators of sustained growth before altering its stance on the stock.
