Brokers Issue Forecasts for Core Scientific FY2026 Earnings

Core Scientific, Inc. (NASDAQ:CORZ - Free Report) - Equities researchers at B. Riley upped their FY2026 earnings per share (EPS) estimates for shares of Core Scientific in a research report issued to clients and investors on Wednesday, July 9th. B. Riley analyst N. Giles now forecasts that the company will post earnings of $0.15 per share for the year, up from their previous forecast of $0.09. B. Riley has a "Hold" rating on the stock. The consensus estimate for Core Scientific's current full-year earnings is $0.52 per share. B. Riley also issued estimates for Core Scientific's FY2027 earnings at $0.39 EPS.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same quarter in the previous year, the company earned $0.78 earnings per share. The company's quarterly revenue was down 55.6% on a year-over-year basis.

CORZ has been the topic of several other research reports. Needham & Company LLC lowered Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a research note on Thursday. Roth Mkm reiterated a "buy" rating and set a $20.00 price objective on shares of Core Scientific in a research report on Thursday, June 26th. JMP Securities initiated coverage on Core Scientific in a report on Thursday, May 22nd. They set a "market outperform" rating and a $15.00 price objective on the stock. Barclays downgraded Core Scientific to an "underweight" rating in a research report on Tuesday. Finally, BTIG Research downgraded Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 target price for the company. in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.22.

Core Scientific Price Performance

CORZ traded down $0.58 during trading on Thursday, hitting $12.61. 13,941,448 shares of the stock traded hands, compared to its average volume of 16,510,887. Core Scientific has a twelve month low of $6.20 and a twelve month high of $18.63. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -2.51 and a beta of 6.71. The business has a 50 day moving average price of $12.14 and a 200 day moving average price of $11.14.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 7,759 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the transaction, the insider directly owned 2,049,689 shares of the company's stock, valued at approximately $25,395,646.71. This represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yadin Rozov purchased 110,000 shares of Core Scientific stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the transaction, the director owned 475,687 shares in the company, valued at $5,170,717.69. This trade represents a 30.08% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 117,759 shares of company stock valued at $1,391,434. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of CORZ. Wellington Shields & Co. LLC bought a new stake in Core Scientific during the fourth quarter worth $26,000. Farther Finance Advisors LLC purchased a new stake in shares of Core Scientific during the 2nd quarter valued at $65,000. Vestcor Inc bought a new position in Core Scientific during the fourth quarter valued at about $66,000. State of Wyoming purchased a new position in Core Scientific during the first quarter valued at approximately $34,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Core Scientific in the 1st quarter valued at $38,000.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.