Canaccord Genuity Group Forecasts Strong Price Appreciation for Core Scientific (NASDAQ:CORZ) Stock

Core Scientific (NASDAQ:CORZ) had its target price upped by analysts at Canaccord Genuity Group from $30.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 73.49% from the company’s previous close.

CORZ has been the subject of several other research reports. Jefferies Financial Group boosted their price objective on Core Scientific from $24.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a report on Friday, July 17th. B. Riley Financial upped their price objective on Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods lowered shares of Core Scientific from an “outperform” rating to a “market perform” rating and set a $25.00 target price for the company. in a report on Monday. Finally, Loop Capital set a $40.00 target price on shares of Core Scientific in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.77.

Core Scientific Price Performance

Shares of Core Scientific stock opened at $20.75 on Wednesday. The stock has a market cap of $6.60 billion, a PE ratio of -18.20 and a beta of 5.50. The firm has a fifty day moving average price of $25.32 and a 200 day moving average price of $20.77. Core Scientific has a 1 year low of $12.60 and a 1 year high of $30.46.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) EPS for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. As a group, equities analysts expect that Core Scientific will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Monday, July 20th. The shares were sold at an average price of $22.30, for a total transaction of $223,000.00. Following the sale, the insider owned 1,999,101 shares of the company’s stock, valued at $44,579,952.30. The trade was a 0.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 80,000 shares of company stock valued at $2,025,400. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $2,052,000 after purchasing an additional 145,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Core Scientific by 180.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after acquiring an additional 714,388 shares during the last quarter. Cetera Investment Advisers raised its position in Core Scientific by 200.0% in the second quarter. Cetera Investment Advisers now owns 38,819 shares of the company’s stock valued at $663,000 after purchasing an additional 25,878 shares during the period. Franklin Resources Inc. purchased a new stake in Core Scientific in the second quarter valued at $181,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the last quarter.

Key Headlines Impacting Core Scientific

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

• Positive Sentiment: AMD partnership strengthens Core Scientific’s AI pivot. AMD agreed to secure up to 2.5 gigawatts of data-center capacity for AI deployments. The initial 530-megawatt rollout across five sites is covered by 15-year agreements and represents approximately $14 billion in potential base contracted revenue. AMD also received warrants to purchase 30 million CORZ shares at $23.47, with vesting tied to capacity deployment. Reuters AMD infrastructure partnership article
• Positive Sentiment: Colocation growth supports a shift away from bitcoin mining. Second-quarter revenue was $164.2 million, above estimates of $144.8 million. Colocation revenue reportedly surged to $136.7 million from $10.6 million a year earlier, while adjusted EBITDA reached $41.1 million, indicating stronger demand for AI-ready infrastructure. Core Scientific second-quarter results
• Positive Sentiment: Analyst and board developments add credibility. Needham reaffirmed a Buy rating with a $29 target, and BTIG maintained Buy with a $38 target. Core Scientific also appointed technology and AI-infrastructure veteran Mark W. Adams to its seven-member board. Core Scientific appoints Mark Adams article
• Neutral Sentiment: Options activity indicates heightened speculation. Traders purchased 141,404 CORZ call options, about 55% above typical daily volume. This reflects increased bullish interest but does not guarantee further gains.
• Negative Sentiment: KBW downgraded the stock to Market Perform. The firm cited valuation concerns following the AI deal, with a $25 price target. The downgrade contributed to an earlier decline in the shares and highlights the risk that investors have already priced in much of the partnership’s benefits.
• Negative Sentiment: Reported earnings and execution risks remain significant. Core Scientific posted a GAAP loss of $3.32 per share versus expectations for a $0.06 loss, although adjusted EPS cited by Zacks was $0.18. The company also spent approximately $797.5 million on capital expenditures to convert sites for high-density computing. An insider’s sale of 10,000 shares adds a modest negative signal, while AMD’s warrants could dilute shareholders.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.