Canaccord Genuity Group Reaffirms Buy Rating for Core Scientific (NASDAQ:CORZ)

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $36.00 price objective on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 149.13% from the company’s current price.

Other equities analysts also recently issued reports about the company. Rothschild & Co Redburn started coverage on Core Scientific in a research report on Monday, September 21st. They issued a “neutral” rating and a $16.00 target price for the company. UBS Group reaffirmed a “market outperform” rating on shares of Core Scientific in a research report on Wednesday. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. BTIG Research reaffirmed a “buy” rating and issued a $38.00 target price on shares of Core Scientific in a research report on Thursday. Finally, Wells Fargo & Company started coverage on Core Scientific in a research report on Thursday, September 17th. They issued an “overweight” rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.36.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded up $0.94 during midday trading on Thursday, reaching $14.45. 33,742,997 shares of the company’s stock were exchanged, compared to its average volume of 12,695,081. The firm’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 $4.64 billion, a price-to-earnings ratio of -3.27 and a beta of 5.49. Core Scientific has a fifty-two week low of $12.31 and a fifty-two week high of $30.46.

Core Scientific (NASDAQ:CORZ) last issued 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 company had revenue of $164.20 million during the quarter, compared to analysts’ expectations of $144.83 million. Equities research analysts predict that Core Scientific will post -1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd DuChene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $19.97, for a total value of $199,700.00. Following the completion of the transaction, the insider directly owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. The trade was a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders bought 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 corporate insiders.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position 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 worth $71,903,000 after buying an additional 3,868,535 shares in the last quarter. California State Teachers Retirement System grew its position 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 worth $4,322,000 after buying an additional 52,260 shares in the last quarter. Man Group plc acquired a new position in shares of Core Scientific during the second quarter worth about $1,986,000. Wellington Management Group LLP grew its position 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 worth $28,756,000 after buying an additional 348,645 shares in the last quarter. Finally, Union Square Park Capital Management LLC acquired a new position in shares of Core Scientific during the first quarter worth about $1,496,000.

More Core Scientific News

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

• Positive Sentiment: Analysts reaffirm bullish ratings and high price targets. Canaccord Genuity reaffirmed a “buy” rating with a $36 target, while BTIG Research maintained its “buy” rating with a $38 target. Cantor Fitzgerald also reiterated an “overweight” rating and a $39 target. These targets imply substantial potential upside from recent trading levels and reinforce expectations that Core Scientific’s AI/HDC infrastructure strategy can generate significant growth.
• Positive Sentiment: Needham maintained its $35 target. The firm reiterated its outlook even as investors monitor credit pressure affecting CoreWeave, Core Scientific’s tenant. Maintaining the target suggests Needham believes the long-term data-center opportunity remains attractive despite customer-related risks. Needham reiterates $35 Core Scientific target as tenant CoreWeave faces credit pressure
• Neutral Sentiment: Third-quarter results are scheduled for November 5. Core Scientific will release fiscal third-quarter 2026 results before the market opens and hold a conference call at 8:30 a.m. Eastern time. The event provides a near-term catalyst, particularly for updates on AI/HDC colocation demand, customer concentration, capacity expansion and financial performance. Core Scientific schedules third-quarter 2026 earnings release
• Negative Sentiment: An insider sold $151,200 of stock. Director or insider Todd DuChene sold 10,000 shares at an average price of $15.12, reducing his direct holdings by approximately 0.85%. He still retains a sizable position, but the transaction may weigh modestly on sentiment because it signals some insider profit-taking.
• Negative Sentiment: CoreWeave’s credit concerns remain a risk. Because Core Scientific relies on large data-center customers, financial pressure at CoreWeave could raise concerns about customer concentration, contract execution or payment risk. Investors will likely seek clarification on this issue during the upcoming earnings call.

About Core Scientific

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.