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

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity Group in a report released on Thursday, Benzinga reports. They currently have a $36.00 price objective on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 166.47% from the stock’s current price.

CORZ has been the topic of several other reports. Compass Point reaffirmed a “buy” rating and set a $36.00 price objective on shares of Core Scientific in a research report on Wednesday, July 29th. B. Riley Financial lifted their price objective on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Freedom Capital raised Core Scientific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. UBS Group reiterated a “market outperform” rating on shares of Core Scientific in a report on Wednesday. Finally, Capital One Financial set a $33.00 target price on shares of Core Scientific in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.36.

Core Scientific Stock Performance

Core Scientific stock opened at $13.51 on Thursday. The stock’s 50 day simple moving average is $17.58 and its two-hundred day simple moving average is $21.05. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -3.06 and a beta of 5.49. Core Scientific has a fifty-two week low of $13.35 and a fifty-two week high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to analyst estimates of $144.83 million. On average, analysts predict that Core Scientific will post -1.36 earnings per share for the current year.

Insider Activity

In other news, insider Todd DuChene sold 10,000 shares of Core Scientific stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the completion of the transaction, the insider directly owned 1,969,101 shares in the company, valued at approximately $39,322,946.97. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 19,000 shares of company stock worth $342,290 and have sold 100,000 shares worth $1,881,300. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Core Scientific by 412.5% during 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 purchasing an additional 3,868,535 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Core Scientific by 22.1% during the first quarter. California State Teachers Retirement System now owns 288,936 shares of the company’s stock valued at $4,322,000 after purchasing an additional 52,260 shares during the last quarter. Man Group plc purchased a new position in shares of Core Scientific during the second quarter valued at approximately $1,986,000. Wellington Management Group LLP lifted its holdings in shares of Core Scientific by 45.0% during the second quarter. Wellington Management Group LLP now owns 1,123,721 shares of the company’s stock valued at $28,756,000 after purchasing an additional 348,645 shares during the last quarter. Finally, Union Square Park Capital Management LLC purchased a new position in shares of Core Scientific during the first quarter valued at approximately $1,496,000.

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.