Core Scientific (NASDAQ:CORZ) Price Target Cut to $28.00 by Analysts at Needham & Company LLC

Core Scientific (NASDAQ:CORZ) had its price target lowered by Needham & Company LLC from $35.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on CORZ. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Core Scientific in a research note on Wednesday, October 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a report on Thursday, October 15th. Capital One Financial set a $33.00 target price on Core Scientific in a research report on Thursday, July 30th. Rothschild & Co Redburn initiated coverage on Core Scientific in a research note on Monday, September 21st. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Core Scientific in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.54.

Core Scientific Stock Up 3.3%

Shares of Core Scientific stock traded up $0.38 on Friday, reaching $11.76. The company’s stock had a trading volume of 29,748,491 shares, compared to its average volume of 15,018,976. The company has a market capitalization of $3.78 billion, a P/E ratio of -3.37 and a beta of 5.56. The stock has a 50-day moving average price of $15.68 and a 200-day moving average price of $19.48. Core Scientific has a 52-week low of $10.59 and a 52-week high of $30.46.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.54. The company had revenue of $232.87 million during the quarter, compared to analyst estimates of $196.54 million. Sell-side analysts forecast that Core Scientific will post -1.36 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $12.78, for a total value of $127,800.00. Following the completion of the sale, the insider owned 1,123,286 shares of the company’s stock, valued at $14,355,595.08. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric Weiss purchased 6,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of $16.33 per share, with a total value of $97,980.00. Following the acquisition, the director directly owned 265,262 shares in the company, valued at approximately $4,331,728.46. The trade was a 2.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 19,000 shares of company stock valued at $342,290 and sold 100,000 shares valued at $1,628,600. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CORZ. BlackRock Inc. purchased a new stake in Core Scientific in the second quarter valued at $719,649,000. Apollo Management Holdings L.P. purchased a new position in Core Scientific in the 2nd quarter valued at approximately $115,671,000. Fifth Third Bancorp acquired a new position in shares of Core Scientific in the first quarter worth $59,802,000. Avala Global LP purchased a new position in Core Scientific in the second quarter valued at $101,729,000. Finally, Bank of America Corp DE grew its stake in Core Scientific by 412.5% during the 1st quarter. Bank of America Corp DE now owns 4,806,363 shares of the company’s stock worth $71,903,000 after purchasing an additional 3,868,535 shares in the last quarter.

Core Scientific News Summary

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

• Positive Sentiment: Core Scientific reported Q3 2026 earnings of $0.47 per share, versus analysts’ expected loss, while revenue of $232.87 million also exceeded estimates. The results provide a fundamental catalyst for investor optimism. Core Scientific surpasses Q3 earnings and revenue estimates
• Positive Sentiment: Traders bought 143,273 CORZ call options Friday, about 127% above average volume. The surge may reflect increased bullish speculation, though options activity does not guarantee future gains.
• Neutral Sentiment: Needham cut its price target from $35 to $28 but maintained a Buy rating. The lower target tempers the outlook, while the continued Buy rating signals the analyst still sees substantial potential upside relative to the cited $11.76 price.
• Negative Sentiment: Insider Todd Duchene sold 10,000 shares for $127,800, reducing his holdings by 0.88%. The sale is a modest cautionary signal, although he retained more than 1.1 million shares. Core Scientific insider sale

About Core Scientific

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.