Ahead of Coreweave Earnings, Here's What Barchart Data Says Comes Next for CRWV Stock

CoreWeave (CRWV) shares have come under intense pressure in recent weeks amid a broader tech rout. Options traders aren’t entirely convinced that a swift recovery is likely after earnings on Nov. 10. Consensus is for the artificial intelligence (AI) infrastructure giant to report -$1.45 in earnings per share (EPS) for its third financial quarter, representing about 367% year-over-year growth. 

As of this writing, CoreWeave stock is down more than 65% versus its year-to-date high in early May.

Options Sentiment Remains Bullish for CoreWeave Stock

According to Barchart’s options data, the put-to-call ratio on CRWV contracts expiring Nov. 13 is set at 0.96x, indicating only a slight bullish skew. A reading below 1.00x is typically characterized as in favor of the bulls.

Nonetheless, the upper price on those options contracts currently sits at $54.73, indicating potential for a rather meaningful 18% rally from current levels through the end of this week. 

Still, caution is warranted in playing CoreWeave given the technical setup heading into its earnings event favors continued downside ahead. 

CRWV shares are currently trading below major moving averages (MAs), with an RSI in the early 30s indicating bears remain dominant. 

Jim Cramer Shares View on CRWV’s Upcoming Earnings

In a recent episode of Mad Money, famed investor Jim Cramer said CoreWeave’s earnings will be significant in determining what comes next for the battered AI data center trade. According to Cramer, management must explain how it plans to finance growth and manage borrowing costs. At the end of last week, the company’s bond yield stood at over 16%. 

On the flip side, the AI stock is now trading at a price-to-sales (P/S) multiple of less than 4x, which signals a material discount versus both peers and its own historical averages. Plus, CRWV is expected to post $3.54 billion in revenue for its Q3, which would represent a remarkable 159% growth on a year-over-year basis. 

How Wall Street Recommends Playing CRWV Shares

Wall Street analysts haven’t thrown in the towel on CRWV stock, either. The consensus rating on CoreWeave sits at “Moderate Buy,” with the mean price target of about $126 indicating potential upside of more than 150% over the next 12 months. 

On the date of publication, Wajeeh Khan did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.