Core Scientific Inc. (NASDAQ:CORZ) stock is climbing on Thursday, maintaining strong bullish momentum. Traders are driving positive price action as Wall Street analysts lift their price forecasts, looking past a wider-than-expected first-quarter net loss to focus on the company’s accelerating transition into artificial intelligence (AI) infrastructure.
Analyst Price Forecasts Extended
Recent analyst notes reveal a wave of institutional optimism. On May 14, Jefferies maintained a buy rating and raised its forecast significantly to $37. This followed a May 13 update from BTIG, which kept its buy rating while boosting its target to $33. Earlier, on May 7, Macquarie maintained an outperform rating and pushed its price forecast to $35.
Mixed Earnings Mask Infrastructure Progress
The bullish sentiment follows Core Scientific's first-quarter financial report delivered after the closing bell on May 6. The company reported quarterly losses of 10 cents per share, missing the consensus estimate of a seven-cent loss.
However, quarterly revenue beat Street estimates, coming in at $115.24 million versus the projected $111.25 million, driven by a monumental jump in colocation revenue to $77.5 million—up from just $8.6 million in the first quarter of 2025.
Capital Readiness and Delivery Speed
While digital asset self-mining revenue fell to $30.1 million due to lower Bitcoin (CRYPTO: BTC) production and lower average prices, Core Scientific’s capital commitments tell a growth story.
First-quarter capital expenditures reached $389.2 million, with $129.9 million funded by CoreWeave Inc. (NASDAQ:CRWV) under existing colocation agreements.
Critical Price Levels To Watch For CORZ
The bigger-picture trend remains bullish: CORZ is trading above its 20-day SMA ($22.22), 50-day SMA ($19.24), 100-day SMA ($18.21), and 200-day SMA ($17.40), and it's up 123.01% over the last 12 months.
Price is also pressing into a crowded area near the top of the 52-week range — $10.40 low to $25.17 high, which can attract profit-taking and quick reversals.
CORZ Stock Price Activity: Core Scientific shares were up 5.57% at $24.47 at the time of publication on Thursday, according to Benzinga Pro data.
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