Stock Market Today, Oct. 19: CoreWeave Rebounds on Goldman Sachs Buy Upgrade and $139 Price Target
CoreWeave (NASDAQ:CRWV), an AI cloud infrastructure provider, closed at $61.12, down 0.44%. The stock moved after Goldman Sachs upgraded it to Buy and raised its target price, while investors are watching the late-October results.
Trading volume reached 99.1M shares, coming in about 198% above its three-month average of 33.3M shares. CoreWeave IPO’d in 2025 and has grown 53% since going public.
S&P 500 (SNPINDEX: ^GSPC) closed at 7,691, up 0.42%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) finished at 26,431, up 1.11%. In artificial intelligence cloud infrastructure and data center compute services, sector rivals Nebius Group closed at $170.24, up 2.88%, and IREN closed at $27.73, up 2.74%.
Goldman’s move seems to represent a contrarian view of the cloud stock, which had traded near 52-week lows before the upgrade.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.