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

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity Group in a research note issued to investors on Thursday, Benzinga reports. They presently have a $36.00 price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 187.84% from the company’s current price.

Several other brokerages have also commented on CORZ. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Needham & Company LLC boosted their target price on shares of Core Scientific from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wells Fargo & Company assumed coverage on shares of Core Scientific in a research note on Thursday, September 17th. They set an “overweight” rating and a $28.00 price target on the stock. B. Riley Financial raised their price target on shares of Core Scientific from $33.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Capital One Financial set a $33.00 price objective on shares of Core Scientific in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $31.36.

Core Scientific Stock Performance

Core Scientific stock opened at $12.51 on Thursday. The stock has a 50-day moving average of $17.58 and a two-hundred day moving average of $21.05. Core Scientific has a one year low of $12.48 and a one year high of $30.46. The stock has a market cap of $4.02 billion, a PE ratio of -2.83 and a beta of 5.49.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results 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. As a group, sell-side analysts predict that Core Scientific will post -1.36 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $199,700.00. Following the completion of the sale, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In 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 insiders.

Hedge Funds Weigh In On Core Scientific

A number of institutional investors have recently bought and sold shares of CORZ. Parkside Financial Bank & Trust lifted its stake in Core Scientific by 1,371.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock valued at $30,000 after acquiring an additional 1,097 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Core Scientific in the second quarter worth $36,000. Rakuten Securities Inc. purchased a new position in shares of Core Scientific during the second quarter worth $47,000. PNC Financial Services Group Inc. raised its holdings in shares of Core Scientific by 41.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,396 shares of the company’s stock worth $66,000 after purchasing an additional 1,285 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Core Scientific by 34.5% during the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock valued at $78,000 after purchasing an additional 782 shares during the period.

Core Scientific News Summary

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.

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.