CoreWeave shares fell to $61.12, near their 52-week low, after bond yields briefly rose above 16% and the cost of insuring its debt hit records above 1,000 basis points amid rate-hike fears and a $50 billion debt load. Second-quarter interest expense reached $640 million, up from $267 million a year earlier. Of 42 analysts, the average price target of $140.58 implies about 130% upside, with Rosenblatt's $250 target the most bullish, and Goldman upgraded the stock to Buy. Second-quarter revenue rose 112.3% to $2.575 billion and backlog reached $104 billion, but free cash flow was negative $5.74 billion last quarter, so the bullish case depends on continued access to capital markets.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Coreweave Keeps Getting Crushed: This Analyst Says It’s Going to Quadruple In Price
Read the original on Yahoo Finance ↗
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