Loading...
[Bernstein Releases CoreWeave Q2 Preview, Questions Competitiveness Beyond 2028] According to Trend Research, Bernstein's July 9 report indicates that CoreWeave's second quarter is a transitional period, with expected revenue of $2.45 billion to $2.6 billion and adjusted operating profit of $30 million to $90 million. Adjusted operating profit for the first quarter was $21 million. Bernstein believes that if the project gross margin falls below 21% or the installation cycle exceeds 8 weeks, fiscal year 2026 operating profit may fall short of expectations. When data center supply is no longer constrained after 2028, CoreWeave's independent GPU cloud moat will face competition from hyperscale providers, with 2028 revenue forecasts 15% below consensus. Bernstein maintains an underperform rating with a target price of $67.