Core Scientific (CORZ) Stock Could Be 9% Undervalued After Earnings And Options Activity

June 21, 2026
Olivia
Stocks Market
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A surge in out-of-the-money put options on Core Scientific (CORZ) after its recent earnings release has drawn fresh attention, as traders respond to positive EBITDA and cash flow despite a reported GAAP net income loss.

See our latest analysis for Core Scientific.

Core Scientific’s recent options activity sits against a strong share price backdrop, with a 30 day share price return of 17.49% and a 90 day share price return of 84.44%. The 1 year total shareholder return of 145.87% points to powerful momentum that recent earnings and cash flow figures appear to have reinforced.

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With net income still in loss territory, a market value of about US$9.27b and the stock trading around 12% below the average analyst target, is Core Scientific offering an entry point, or is the market already pricing in future growth?

Most Popular Narrative: 9% Undervalued

With Core Scientific last closing at $29.16 against a narrative fair value of $32.05, the prevailing view prices in more upside than the current market.

The company is expanding HPC infrastructure capacity by reallocating resources from Bitcoin mining, adding new sites, and extending existing ones, expecting to drive future revenue growth as data center needs rise. Core Scientific’s ability to diversify its customer base and reduce reliance on CoreWeave as a primary client could improve margins and provide more stable revenue streams in the long term.

Read the complete narrative.

Want to see what sits behind that power shift at Core Scientific? Revenue mix, profit margins, and contract assumptions all feed into this fair value story. The bolder calls rest on a handful of key forecasts that the headline numbers only hint at.

Result: Fair Value of $32.05 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, the Core Scientific story still hinges on turning large reported losses and a heavy reliance on CoreWeave into the diversified, profitable AI hosting business that analysts expect.

Find out about the key risks to this Core Scientific narrative.

Another View: Core Scientific Looks Expensive On Sales

While the narrative fair value suggests Core Scientific is undervalued, the current P/S ratio of 26.1x tells a different story. It sits far above the US Software industry average of 3.2x and a fair ratio of 7.9x, which points to meaningful valuation risk if expectations are not met.

For investors weighing that gap against the AI hosting story and contract pipeline, it raises a simple question: how much optimism is already built into the current Core Scientific share price?

See what the numbers say about this price — find out in our valuation breakdown.

Next Steps

Given the mix of enthusiasm and concern around Core Scientific, now is a good time to review the facts yourself and decide where you stand with 1 key reward and 1 important warning sign

Looking for more investment ideas beyond Core Scientific?

If Core Scientific has sharpened your thinking, do not stop there. Broader context across other stocks can make your next move more informed and more confident.

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.