Core Scientific

CORZ · NASDAQ

$13.79+$0.06 (+0.44%)TodayMarket closed · Oct 20, 7:54 PM ET

Prev close $13.73

CORZ analyst rating

BuyConsensus of 18 analysts over the last 12 months. 89% rate it a buy.

Strong buy0
Buy16
Hold2
Underperform0
Sell0

12-month price target · 23 analysts

Average $34.68 (+151.5% upside)

Low: $20.20
Now: $13.79
High: $57.75

Upgrades and downgrades

The latest rating actions, newest first

CORZ analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 16, 2026	Maintains	Overweight	$39.00 → $30.00	40%
Canaccord Genuity	Oct 15, 2026	Maintains	Buy	$36.00	49%
BTIG	Oct 15, 2026	Maintains	Buy	$38.00	45%
Cantor Fitzgerald	Oct 14, 2026	Maintains	Overweight	$39.00	40%
UBS	Sep 23, 2026	Initiates	Buy	$24.00	44%
Rothschild & Co	Sep 21, 2026	Initiates	Neutral	$16.00	62%
Wells Fargo	Sep 17, 2026	Initiates	Overweight	$28.00	43%
B. Riley Securities	Aug 3, 2026	Maintains	Buy	$33.00 → $42.00	54%
Keefe, Bruyette & Woods	Jul 30, 2026	Upgrade	Market Perform → Outperform	$25.00 → $28.00	33%
Macquarie	Jul 29, 2026	Maintains	Outperform	$35.00 → $38.00	47%

The case for and against

Updated Oct 14, 2026

Bull case

Core Scientific is attractive because it has built a massive, geographically diversified power platform of about 2.6GW of approved capacity and roughly 1.5GW of leasable pipeline, including around 590MW contracted to CoreWeave and another ~600MW in load study, giving it a long runway for AI/HPC growth. Its first-mover position in HPC colocation is already monetizing, with 243MW delivered and about $350M in annualized GAAP revenue, while the CoreWeave contract alone is described as a $10B+ 12-year agreement with 80%-85% anticipated gross margins. The balance sheet also looks stronger after raising about $4.3B this year, including $1B+ liquidity, which supports the conversion of legacy bitcoin-mining assets into higher-value colocation infrastructure and reduces execution risk.

Bear case

Core Scientific is facing a fundamentally fragile transition because its downside case hinges on delays bringing CRWV power infrastructure online and on trouble securing incremental power approvals, both of which would postpone run-rate revenues and limit HPC scale-up. Despite Q1 revenue of $115.2M, gross profit of $30.1M and adjusted EBITDA of $10.9M fell well short of expectations as self-mining softened to $30.1M and margins compressed, underscoring declining earnings quality. The business also remains highly exposed to CoreWeave, with all projected HPC capacity tied to one customer, while risks around power access, financing, M&A execution, and potential equity dilution constrain diversification and returns.

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