CoreWeave (NASDAQ:CRWV) Shares Gap Up Following Analyst Upgrade
Goldman Sachs still sees nearly 73% upside after trimming its price target, and CoreWeave rose 6% in premarket trading.
- On Monday, Goldman Sachs upgraded CoreWeave to Buy from Neutral, sending shares up 6% to $65.37 in a meaningful shift from the investment bank.
- CoreWeave shares plunged 25% last week as rising bond yields heightened investor concerns about the company's debt-heavy balance sheet, with the firm having taken on over $51 billion in debt.
- Analyst Gabriela Borges cited CoreWeave's quality and use of asset-backed "delayed draw term loans" , writing that "by the time the contract expires, the associated debt has often been substantially or fully repaid."
- Nebius Group shares gained 7% as the upgrade lifted the broader neocloud sector, while the Invesco QQQ Trust climbed 1.29% despite volatility in holdings including Oracle up 2%.
- Goldman trimmed its price target to $106 from $139, implying nearly 73% upside from Friday's close, while 31 of 45 analysts covering the company maintain buy or strong buy ratings.
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CoreWeave Stock Jumps 6.5% as Goldman Upgrades, Cuts Target
CoreWeave (NASDAQ: CRWV) shares rose 6.53% to $65.40 in premarket trading Monday as of 8:46 a.m. ET, after Goldman Sachs upgraded the artificial intelligence infrastructure provider from Neutral to Buy, arguing that investors may be overestimating its future financing costs while undervaluing potential returns from its computing assets.Visit Website
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BizTocCoreWeave Jumps 6% on Goldman Sachs Upgrade; Nebius Rises 7%, Oracle Edges Higher
A fresh analyst endorsement is giving CoreWeave (NASDAQ:CRWV) a lift after a stretch in which its debt load dominated the conversation. CoreWeave stock is up 6% to $65.37 in morning trading. Goldman Sachs upgraded CoreWeave shares to Buy from Neutral in a new research note, a meaningful shift in tone from a major Wall Street […]
'Not all neoclouds are created equal': Goldman Sachs says buy the dip on CoreWeave after sell-off last week
Investors should scoop up CoreWeave following an overblown sell-off last week, as it has key advantages over competitors, according to Goldman Sachs.
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