Coreweave’s Stock Jumps To New All-Time High After Citi More Than Doubles Price Target

Coreweave’s (CRWV) stock surged more than 18% in morning trade on Wednesday to hit a fresh all-time high of $108.50 after Citi more than doubled its share price target.

This extends the stock’s three-day rally, which has been hitting new highs daily.

According to TheFly, Citi analyst Tyler Radke raised the firm’s price target on Coreweave to $94 from $43 while keeping a ‘Neutral’ rating on the shares. The price target has already been achieved.

The brokerage said the company’s “strong” first quarter (Q1) results, while mixed, reinforce Coreweaves’s “high-growth status” — especially with the recent $4 billion OpenAI expansion deal. 

However, Citi also stated that it would like to see more progress in profitability and customer diversification before recommending the shares.

The company, backed by Nvidia (NVDA), debuted on the Nasdaq on March 28. Coreweave’s stock has surged more than 158% since being listed as of Wednesday morning.

According to SEC filings, Nvidia has a 7% stake in the company, comprising 24.2 million shares. Nvidia initially invested $100 million in April 2023, followed by another $250 million in Coreweave’s IPO.

At the recent trading price of around $100, already more than double the $40 IPO price, Nvidia’s stake is valued at $2.42 billion, a paper profit of $2.07 billion on the original investment of $350 million.

Coreweave, which provides cloud infrastructure for AI, has Microsoft (MSFT) as its largest customer, accounting for 62% of its revenue in 2025, according to its IPO filing.

For the second quarter, Coreweave projected sales of $1.06 billion to $1.1 billion, guiding for an adjusted operating income between $140 million and $170 million. 

For the full year, it expects sales of $4.9 billion to $5.1 billion and adjusted operating income of $800 million and $830 million. 

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