Core Scientific’s (CORZ) Buy Rating Reiterated at Canaccord Genuity Group

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $36.00 price objective on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 166.47% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Core Scientific in a report on Wednesday. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $25.00 to $28.00 in a report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of Core Scientific in a report on Wednesday. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. Finally, BTIG Research reaffirmed a “buy” rating and set a $38.00 price objective on shares of Core Scientific in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has an average rating of “Moderate Buy” and a consensus price target of $31.36.

Core Scientific Stock Performance

NASDAQ CORZ opened at $13.51 on Thursday. Core Scientific has a 52-week low of $13.35 and a 52-week high of $30.46. The company has a market capitalization of $4.34 billion, a P/E ratio of -3.06 and a beta of 5.49. The company has a fifty day moving average of $17.58 and a 200-day moving average of $21.05.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The firm had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. As a group, analysts forecast that Core Scientific will post -1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, Director Elizabeth Crain purchased 6,000 shares of the stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $18.33 per share, with a total value of $109,980.00. Following the completion of the purchase, the director directly owned 71,348 shares of the company’s stock, valued at approximately $1,307,808.84. This trade represents a 9.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Weiss purchased 6,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $16.33 per share, with a total value of $97,980.00. Following the completion of the purchase, the director directly owned 265,262 shares of the company’s stock, valued at $4,331,728.46. The trade was a 2.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 19,000 shares of company stock valued at $342,290 and sold 100,000 shares valued at $1,881,300. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Core Scientific in the second quarter valued at about $719,649,000. Jericho Capital Asset Management L.P. increased its position in shares of Core Scientific by 11.4% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 13,038,619 shares of the company’s stock valued at $189,842,000 after acquiring an additional 1,338,796 shares during the period. Bank of America Corp DE increased its position in shares of Core Scientific by 412.5% in the first quarter. Bank of America Corp DE now owns 4,806,363 shares of the company’s stock valued at $71,903,000 after acquiring an additional 3,868,535 shares during the period. Clearline Capital LP increased its position in shares of Core Scientific by 274.2% in the fourth quarter. Clearline Capital LP now owns 4,689,443 shares of the company’s stock valued at $68,278,000 after acquiring an additional 3,436,127 shares during the period. Finally, Apollo Management Holdings L.P. purchased a new position in shares of Core Scientific in the second quarter valued at about $115,671,000.

Key Headlines Impacting Core Scientific

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: Analyst targets imply substantial upside. Canaccord Genuity reaffirmed a “Buy” rating with a $36 price target, while BTIG Research maintained its “Buy” rating and set a $38 target. Cantor Fitzgerald also reaffirmed its “Overweight” rating with a $39 target. These targets reflect analysts’ confidence in Core Scientific’s data-center and artificial-intelligence infrastructure growth prospects. Canaccord Genuity analyst rating
• Positive Sentiment: Needham maintained a $35 price target. The firm reiterated its bullish outlook despite credit-related concerns involving CoreWeave, Core Scientific’s tenant and key AI infrastructure customer. Needham reiterates Core Scientific target
• Neutral Sentiment: Third-quarter results are scheduled for November 5. Core Scientific will release fiscal third-quarter 2026 results before market open and host a conference call at 8:30 a.m. Eastern time. The event gives investors a near-term catalyst to assess revenue growth, profitability, data-center expansion and customer concentration. Core Scientific earnings release announcement
• Negative Sentiment: An insider sold $151,200 of stock. Director Todd Duchene sold 10,000 shares at an average price of $15.12, reducing his direct ownership by 0.85%. Although he still owns more than 1.15 million shares, the transaction may add modest selling pressure or raise caution among investors. Core Scientific insider sale
• Negative Sentiment: Credit concerns surrounding CoreWeave could weigh on sentiment. Because CoreWeave is an important tenant, questions about its financial strength could increase concerns about customer concentration, contract execution and the pace of Core Scientific’s AI infrastructure expansion.

Core Scientific Company Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers in the United States. Its business has historically centered on cryptocurrency mining, particularly the processing of transactions on the Bitcoin network, while also providing hosting and infrastructure services to other mining and technology customers.

The company is expanding its data center capabilities to support high-performance computing and artificial intelligence workloads. Its services include data center operations, power and equipment management, hosting, and related infrastructure support for customers that require substantial computing capacity.

Core Scientific was founded in 2017 and became a publicly traded company through a business combination in 2022.