Core Scientific (NASDAQ:CORZ) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Core Scientific (NASDAQ:CORZ) had its price target hoisted by investment analysts at Needham & Company LLC from $23.00 to $29.00 in a report issued on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 26.53% from the company’s previous close.

Several other analysts have also issued reports on CORZ. LADENBURG THALM/SH SH reduced their target price on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Core Scientific in a research note on Tuesday, March 3rd. Cantor Fitzgerald upped their target price on shares of Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Zacks Research upgraded shares of Core Scientific from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen upgraded shares of Core Scientific to a “sell” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.01.

Core Scientific Trading Up 2.5%

CORZ opened at $22.92 on Thursday. The company’s fifty day moving average price is $17.75 and its two-hundred day moving average price is $17.49. Core Scientific has a 1-year low of $9.17 and a 1-year high of $25.01. The company has a market cap of $7.29 billion, a price-to-earnings ratio of -20.11 and a beta of 5.45.

Core Scientific (NASDAQ:CORZ) 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 business had revenue of $115.24 million for the quarter, compared to analysts’ expectations of $117.04 million. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was up 44.9% on a year-over-year basis. As a group, equities analysts forecast that Core Scientific will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $20.86, for a total transaction of $208,600.00. Following the completion of the transaction, the insider owned 1,980,348 shares in the company, valued at approximately $41,310,059.28. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 50,000 shares of company stock worth $933,400 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core Scientific

Several institutional investors have recently added to or reduced their stakes in CORZ. Jericho Capital Asset Management L.P. bought a new position in Core Scientific during the third quarter valued at about $209,895,000. Situational Awareness LP grew its position in Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after buying an additional 8,575,944 shares during the period. Value Aligned Research Advisors LLC bought a new position in Core Scientific during the fourth quarter valued at about $117,786,000. Oaktree Capital Management LP bought a new position in Core Scientific during the third quarter valued at about $114,829,000. Finally, Vanguard Group Inc. grew its position in Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares during the period.

Key Stories Impacting Core Scientific

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

• Positive Sentiment: Core Scientific announced a major expansion plan for its Muskogee, Oklahoma campus to roughly 1.5 gigawatts of gross power, reinforcing its AI colocation growth story and expanding future capacity. BusinessWire: Muskogee Expansion
• Positive Sentiment: The company also disclosed a roughly $3.3 billion capital raise to fund AI colocation expansion, giving it a larger runway to build out infrastructure, though investors will still watch financing terms closely. TipRanks: $3.3B raise
• Positive Sentiment: Needham raised its price target on Core Scientific to $29 from $23 and reiterated a buy rating, signaling continued analyst confidence in the stock’s upside. The Fly: Needham target raise
• Positive Sentiment: Momentum-focused coverage highlighted Core Scientific’s strategic pivot and rising sentiment around its AI-related growth potential, which is helping support speculative buying. Benzinga: Momentum coverage
• Neutral Sentiment: Q1 revenue grew about 45% year over year to $115.24 million, but it still came in slightly below estimates, showing solid growth alongside execution challenges during the buildout phase. Zacks: Q1 metrics
• Neutral Sentiment: The company’s earnings call transcript and presentation were released, giving investors more detail on expansion plans, backlog, and capital allocation. Seeking Alpha: Q1 transcript
• Negative Sentiment: Core Scientific reported a wider-than-expected Q1 loss and missed EPS estimates badly, which initially pressured the stock after earnings. Benzinga: Q1 earnings miss
• Negative Sentiment: Insider Todd Duchene sold 10,000 shares, a modest sale but still a headline that can weigh on short-term sentiment. SEC Form 4: Insider sale

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.