CoreWeave reports first-quarter earnings on May 7.
Bank of America raised its price target on the stock to $140 from $120. Analysts cited increased confidence in the company's cloud computing business.
Jefferies increased its price target to $160 from $120. This upgrade reflects unrelenting demand for AI compute and major new performance obligations.
CoreWeave recently secured a multi-year $21 billion deal with Meta. The company also signed a $6 billion agreement with Jane Street.
These contracts pushed the total backlog of commitments to over $95 billion. Analysts are now focused on the company's ability to convert this backlog into recognized revenue.