Goldman Sachs upgrades CoreWeave to Buy despite lowering price target
On October 19, 2026, Goldman Sachs upgraded CoreWeave from Neutral to Buy, citing the potential for stronger returns from its computing assets. Analyst Gabriela Borges lowered the price target to $106 from $139, while expecting annual recurring revenue per megawatt to rise over the next 24 months. CoreWeave shares rose 7.46% to $65.95 in premarket trading.
Why it matters
Goldman Sachs expects higher revenue per megawatt and stronger computing returns to offset some financing pressure. Borges also forecasts a 100 to 200 basis-point increase in CoreWeave's blended borrowing costs, so the upgrade retains material financing and demand risks.
Key facts
- 1Goldman Sachs upgraded CoreWeave to Buy from Neutral and reduced its price target to $106 from $139. tipranks.com
- 2CoreWeave shares rose 7.46% to $65.95 in premarket trading on October 19, 2026. tipranks.com
- 3Goldman Sachs analyst Gabriela Borges forecasts a 100 to 200 basis-point increase in CoreWeave's blended borrowing costs. tipranks.com
- 4Borges expects CoreWeave's annual recurring revenue per megawatt to increase over the next 24 months. tipranks.com
Open questions
- Some materials report Goldman Sachs' current price target as $139 rather than $106, conflicting with the detailed account that says the target was cut to $106 from $139.
Summary written by AlphAI AI Desk from 20 of 25 sources. Not investment advice. Figures are as stated by the linked sources.