CoreWeave Inc. (NASDAQ:CRWV)‘s 9.75% notes due October 2031 traded near 80.6 cents on the dollar on Tuesday, pushing their yield to 15.58%, up from about 11.3% in mid-August.

Shares were last down 2.8% at $59.39, slightly trimming losses after touching $57.24 intraday – their lowest level since May 13, 2025.

CoreWeave’s stock price is now down 32% in a month, 17% this year and 57% from its June high of $138.25.

On Monday, Goldman Sachs analyst Gabriela Borges upgraded CoreWeave to Buy from Neutral while cutting her price target to $106 from $139, according to Benzinga Analyst Ratings.

Borges noted that CoreWeave raised computing prices by 25% in July and by another 10% in October. Goldman estimates the company’s average borrowing costs could rise by 100 to 200 basis points while returns on new projects stay attractive.

HSBC disagrees. On Monday, it kept a Reduce rating and a $39 target, estimating CoreWeave could generate about $12 million in annual revenue per megawatt in 2027, against $17 million to $18 million for larger cloud providers.

Mizuho cut its target to $88 from $115 last week. Rothschild & Co started coverage in September with a Sell rating and a $54 target.

The average analyst target is $135, more than double the share price.

Chart: CoreWeave’s 9.75% 10/31 yield to maturity

Image: Envato Elements

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