Cantor Fitzgerald analyst Brett Knoblauch reiterated an Overweight rating on CoreWeave.
Knoblauch maintained a $167 price target and stated investors are woefully undervaluing the AI cloud provider.
A recent bond offering memorandum revealed higher run-rate EBITDA metrics following new contract signings.
Knoblauch projects CoreWeave’s second-quarter backlog could exceed $131 billion.
This projection significantly surpasses the current consensus estimate of $104.4 billion.
The data suggests the company is positioned for a substantial backlog beat this quarter.