Core Scientific's (CORZ) Buy Rating Reiterated at BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Core Scientific and set a $38 price target, implying 181.27% upside from the reported $13.51 share price. The broader analyst consensus is “Moderate Buy,” with an average target of $31.36.
• Core Scientific’s shares opened at $13.51, near their 12-month low of $13.35, while the company reported a quarterly loss of $3.32 per share—well below the expected $0.06 loss—despite revenue exceeding estimates.
• Institutional interest has grown, with BlackRock, Apollo Management and other funds establishing or increasing positions. Insiders made some purchases, though they collectively sold more shares than they bought over the prior 90 days.

Core Scientific (NASDAQ:CORZ - Get Free Report)'s stock had its "buy" rating reaffirmed by BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $38.00 price objective on the stock. BTIG Research's price target suggests a potential upside of 181.27% from the stock's current price.

A number of other research analysts have also recently issued reports on CORZ. UBS Group reissued a "market outperform" rating on shares of Core Scientific in a research note on Wednesday. Citigroup reaffirmed a "market outperform" rating on shares of Core Scientific in a research report on Wednesday. Rothschild & Co Redburn initiated coverage on Core Scientific in a research report on Monday, September 21st. They set a "neutral" rating and a $16.00 price objective for the company. Wells Fargo & Company initiated coverage on Core Scientific in a report on Thursday, September 17th. They set an "overweight" rating and a $28.00 target price on the stock. Finally, Canaccord Genuity Group upped their target price on Core Scientific from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.36.

Core Scientific Stock Down 12.4%

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

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) 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 analyst estimates of $144.83 million. As a group, equities research analysts anticipate that Core Scientific will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Eric Weiss acquired 6,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $16.33 per share, for a total transaction of $97,980.00. Following the completion of the purchase, the director directly owned 265,262 shares of the company's stock, valued at approximately $4,331,728.46. This represents a 2.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Crain acquired 6,000 shares of the company's stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $18.33 per share, for a total transaction of $109,980.00. Following 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 19,000 shares of company stock worth $342,290 and have sold 100,000 shares worth $1,881,300. Corporate insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. BlackRock Inc. bought a new position in Core Scientific during the 2nd quarter worth $719,649,000. Apollo Management Holdings L.P. bought a new position in Core Scientific during the 2nd quarter worth $115,671,000. Fifth Third Bancorp bought a new position in Core Scientific during the 1st quarter worth $59,802,000. Avala Global LP bought a new position in Core Scientific during the 2nd quarter worth $101,729,000. Finally, Bank of America Corp DE boosted its holdings in shares of Core Scientific by 412.5% in the 1st 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 in the last quarter.

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.

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.