Cipher Mining Inc. (CIFR) closed the most recent trading day at $7.72, moving +2.66% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.45%.
Prior to today's trading, shares of the company had gained 58.32% outpaced the Business Services sector's gain of 1.89% and the S&P 500's gain of 3.07%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.06, indicating a 76.92% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $75.02 million, up 211.27% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.32 per share and a revenue of $269.1 million, representing changes of -128.57% and +77.89%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.04% higher. Cipher Mining Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cipher Mining Inc. (CIFR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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