Core Scientific’s (CORZ) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Core Scientific (NASDAQ:CORZ) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have a $29.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Lucid Cap Mkts raised Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods downgraded shares of Core Scientific from an “outperform” rating to a “market perform” rating and set a $25.00 price target for the company. in a research report on Monday. B. Riley Financial upped their price target on shares of Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Loop Capital set a $40.00 price target on shares of Core Scientific in a research note on Friday, June 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Core Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $31.68.

Core Scientific Stock Up 20.4%

Shares of NASDAQ CORZ opened at $21.81 on Tuesday. The stock has a market cap of $6.93 billion, a PE ratio of -4.93 and a beta of 5.50. Core Scientific has a 52-week low of $12.60 and a 52-week high of $30.46. The business has a 50-day moving average price of $25.16 and a 200 day moving average price of $20.81.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (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 analysts’ expectations of $144.83 million. Sell-side analysts anticipate that Core Scientific will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $20.95, for a total transaction of $209,500.00. Following the completion of the sale, the insider directly owned 1,989,101 shares of the company’s stock, valued at approximately $41,671,665.95. This trade represents a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 90,000 shares of company stock worth $2,234,900. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CORZ. Situational Awareness LP raised its stake in shares of Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after purchasing an additional 8,575,944 shares during the last quarter. Value Aligned Research Advisors LLC acquired a new stake in shares of Core Scientific during the fourth quarter worth $117,786,000. Vanguard Group Inc. grew its position in Core Scientific by 18.7% in the 4th 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 last quarter. Fifth Third Bancorp purchased a new position in Core Scientific in the 1st quarter valued at $59,802,000. Finally, Bank of America Corp DE increased its stake in 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 buying an additional 3,868,535 shares during the period.

More Core Scientific News

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

• Positive Sentiment: AMD deal creates substantial long-term revenue potential. AMD is leasing up to 2.5 gigawatts of Core Scientific’s data-center capacity to support AI deployments. The initial 529-megawatt commitment is covered by long-term agreements across five sites, and Bernstein estimates the arrangement could generate approximately $14 billion over 15 years. The agreement also includes warrants allowing AMD to acquire up to 30 million CORZ shares at $23.47. AMD Core Scientific data-center deal
• Positive Sentiment: Analyst sentiment improved. Keefe, Bruyette & Woods upgraded CORZ to Outperform and raised its price target to $28 from $25. Needham and BTIG also issued Buy ratings, while Canaccord maintained Buy and lifted its target to $36 from $30. These actions reinforce the view that Core Scientific’s pivot from cryptocurrency mining to AI colocation could support higher valuation. Needham Buy rating
• Positive Sentiment: The AI transition is gaining operational traction. Recent quarterly revenue reached $164.2 million, exceeding estimates of $144.83 million, while colocation revenue reportedly rose sharply year over year. Investors may view the AMD contract as validation of Core Scientific’s ability to repurpose former Bitcoin-mining facilities for high-density computing.
• Neutral Sentiment: Board expansion adds technology expertise. Core Scientific appointed Mark W. Adams, a technology executive with experience in AI infrastructure and semiconductors, to its seven-member board. The appointment supports the company’s strategic repositioning but is unlikely to materially affect near-term results. Core Scientific board appointment
• Negative Sentiment: Losses, capital needs and dilution remain risks. Core Scientific reported a quarterly GAAP loss of $3.32 per share, substantially below the consensus loss estimate of $0.06, despite beating revenue expectations. Converting sites for AI workloads requires significant capital spending, and AMD’s warrants could dilute existing shareholders if exercised. Insider Todd Duchene also sold 10,000 shares in a recent transaction, although the sale reduced his stake by only about 0.5%.

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.