3 Hot New IPOs Defying the 2025 Market Slump

April 14, 2025 at 10:49 AM EDT

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Amid the precipitous decline in the general market in 2025, several new stocks on the block have managed to outperform.

As of the April 11 close, the S&P 500 Index has provided a total return of nearly down 9%. Three stocks that had their initial public offerings (IPOs) in 2024 or 2025 have achieved returns between down 2% and up 25% this year, beating the S&P: Tempus AI (NASDAQ: TEM), ServiceTitan (NASDAQ: TTAN), and CoreWeave, Inc. Class A Common Stock (NASDAQ: CRWV). Here's why.

Tempus AI: Shares Up Solidly in 2025 Despite Big Slide

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AI-centric healthcare stock Tempus AI has provided a very strong return on the year of just under 25%.

In January, the firm launched its AI-enabled health concierge app, Olivia, which could significantly enhance its overall business. App usage could lead to significantly more people purchasing the company's genomic sequencing service. Tempus AI sells this genomic data to drug development companies, multiplying the initial sequencing revenue several times over in subsequent years.

Tempus AI also made multiple acquisitions in 2025 that can help increase its access to data and provide other complementary capabilities.

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That said, the stock hasn’t had a smooth ride. While Tempus AI was up as much as 164% by mid-February, shares have pulled back significantly. A sharp 15% drop followed the company’s most recent earnings report, in which it missed estimates on both sales and adjusted earnings per share (EPS).

However, the company is still growing at a brisk pace, seeing sales rise by nearly 36% in Q4 2024. Tempus AI believes it will achieve positive full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first time in 2025.

Analysts have given TEM stock a Moderate Buy rating, with a consensus price target of $61.18—representing nearly 43% upside form where its currently trading.

ServiceTitan: Bringing Tech to the Trades and Outperformance in 2025

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ServiceTitan had a much-talked-about IPO in mid-December 2024. The company is working to modernize “the trades," bringing management software and technology to industries that traditionally have been slow to digitize.

Overall, the stock is down just 2% in 2025 so far, still beating the S&P. The firm’s financial performance in Q4 2024 was impressive, beating revenue estimates by over $9 million and adjusted net income estimates by nearly $7 million. The company’s 2025 sales guidance came in solidly higher than expected.

While growing its revenues by north of 25% for multiple years, the company has also made impressive progress in improving its profitability. Its adjusted operating margin has increased from dwon 32% to up 3% in just under three years.

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ServiceTitan believes it has a significant runway to continue growing its business. Based on the markets it currently serves, it sees a serviceable addressable market of $13 billion.

This is around 17x higher than the revenue it generated over the last 12 months.

As the firm grows its product features and works into new markets, it believes it has a total addressable market of over $30 billion.

TTAN stock has received a Moderate Buy rating from analysts with a nearly is projected upside 12%.

CoreWeave: Stock with NVIDIA and OpenAI Ties Doing Well Since IPO

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When CoreWeave went public on March 28, 2025, it gained a large amount of attention. This was primarily due to the fact that chip giant NVIDIA (NASDAQ: NVDA) owns approximately 5% of CoreWeave's shares. Companies with investments from NVIDIA have seen their share prices soar since they disclosed this information. Investors want to place their bets where NVIDIA, arguably the world’s most important tech company right now, places theirs. OpenAI also has a $350 million investment in the firm and inked a nearly $12 billion deal.

CoreWeave rents out access to NVIDIA’s graphics processing units (GPUs), which it has amassed over 250,000 of, through the cloud. Customers access this hardware to run or train their AI models.

CoreWeave shares are up over 9% in 2025 so far. Given CoreWeave's recent IPO, analyst coverage is low. However, it is worth nothing that D.A. Davidson currently rates the stock as a Hold, but has issued a price target of $47.00, a 4.37% upside from where it trades today.

All performance data is as of the April 11 close unless otherwise noted.

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