Goldman Sachs upgraded CoreWeave (NASDAQ: CRWV) from Neutral to Buy on October 19, 2026. This decision follows a 25% drop in the company's share price over the preceding week and a 43% decline since the second-quarter earnings report on August 11.
Despite the upgrade, the bank reduced its price target for CoreWeave shares from $139 to $106. Analysts estimate an upside potential of approximately 73% from the previous closing price.
CoreWeave reported revenue of $2.58 billion for the second quarter, compared to $1.21 billion in the same period last year, while recording a net loss of $626 million. Debt obligations reached nearly $52 billion by the end of June 2026.
Analyst Gabriela Borges highlighted a revenue backlog of roughly $104 billion as a key buffer for the company. While unsecured bond yields have reached 15%, Goldman Sachs notes that most of the company's financing is secured by GPU collateral, limiting expected capital cost increases to 100–200 basis points.
