Core Scientific (NASDAQ:CORZ) Given New $29.00 Price Target at Needham & Company LLC

Core Scientific (NASDAQ:CORZ - Get Free Report) had its price objective boosted by investment analysts at Needham & Company LLC from $23.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 17.74% from the stock's current price.

Several other research firms have also weighed in on CORZ. Wall Street Zen raised Core Scientific to a "sell" rating in a report on Saturday, March 14th. Zacks Research upgraded Core Scientific from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 13th. HC Wainwright reissued a "buy" rating and set a $25.00 price target on shares of Core Scientific in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods upped their price objective on Core Scientific from $19.00 to $25.00 and gave the company a "moderate buy" rating in a research report on Tuesday, January 27th. Finally, Cantor Fitzgerald increased their price objective on Core Scientific from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.43.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $24.63 on Thursday. The business's 50 day simple moving average is $17.66 and its 200-day simple moving average is $17.47. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 21.05 and a beta of 5.45. Core Scientific has a 12 month low of $8.74 and a 12 month high of $25.01.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04). The company had revenue of $115.24 million during the quarter, compared to analysts' expectations of $117.04 million. Core Scientific's quarterly revenue was up 44.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts anticipate that Core Scientific will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $20.86, for a total transaction of $208,600.00. Following the transaction, the insider owned 1,980,348 shares of the company's stock, valued at $41,310,059.28. This trade represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 50,000 shares of company stock worth $933,400 over the last ninety days. Corporate insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Core Scientific

Large investors have recently modified their holdings of the company. SPX Gestao de Recursos Ltda raised its holdings in Core Scientific by 95.9% in the first quarter. SPX Gestao de Recursos Ltda now owns 205,350 shares of the company's stock valued at $3,072,000 after buying an additional 100,550 shares during the period. Helium Advisors LLC purchased a new position in shares of Core Scientific in the 1st quarter valued at $508,000. Principal Financial Group Inc. lifted its holdings in shares of Core Scientific by 19.4% during the 1st quarter. Principal Financial Group Inc. now owns 19,572 shares of the company's stock valued at $293,000 after acquiring an additional 3,185 shares in the last quarter. Fifth Third Bancorp purchased a new position in Core Scientific in the first quarter valued at about $59,802,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Core Scientific during the 1st quarter valued at about $533,000.

Core Scientific News Roundup

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

• Positive Sentiment: Announced acquisition of Polaris DS (~$421M) and a plan to scale the Muskogee, OK campus to ~1.5 GW of gross power, which materially expands power capacity and accelerates AI/HPC colocation growth. BusinessWire: Muskogee Expansion
• Positive Sentiment: Company disclosed a ~$421M deal for Polaris DS assets (adds ~440 MW contracted gross power adjacent to Muskogee) that supports faster delivery of leasable capacity to high‑density customers. This deal helped earlier intraday upside. Quiver Quant: Polaris DS acquisition
• Positive Sentiment: Company announced a large $3.3B capital raise to expand AI colocation capacity — provides capital runway to execute expansion plans (but details of terms matter for dilution). TipRanks: $3.3B raise
• Neutral Sentiment: Q1 revenue grew ~45% YoY to $115.24M but narrowly missed consensus (~$117M) — solid top‑line growth supports the growth story even as near‑term margins disrupted by buildout and financing. Press Release / Slide Deck
• Neutral Sentiment: Heavy options activity (large call buying) ahead of and around the announcements — suggests speculative bullish interest that can amplify moves but also increases volatility. MarketBeat: Options note
• Neutral Sentiment: Earnings call transcript and presentation released for Q1 — useful for detail on timing of deliveries, contract backlog and capital plan. Seeking Alpha: Q1 transcript Seeking Alpha: Presentation
• Negative Sentiment: Q1 EPS missed badly — company reported a deficit (widely cited as ($1.06) per MarketBeat/press release) well below analyst expectations, prompting the post‑earnings pullback. Benzinga: EPS miss
• Negative Sentiment: Insider selling: Todd M. Duchene sold 10,000 shares on May 4 — small in the context of his holdings but noted by markets and often viewed as a negative signal. SEC Form 4

Core Scientific Company Profile

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.

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