Cipher Mining Inc. (CIFR) ended the recent trading session at $11.85, demonstrating a -4.28% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.48%. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.94%.
Shares of the company witnessed a gain of 108.07% over the previous month, beating the performance of the Business Services sector with its gain of 2.59%, and the S&P 500's gain of 2.46%.
Market participants will be closely following the financial results of Cipher Mining Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.06, marking a 76.92% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $75.02 million, reflecting a 211.27% rise from the equivalent quarter last year.
CIFR's full-year Zacks Consensus Estimates are calling for earnings of -$0.32 per share and revenue of $269.1 million. These results would represent year-over-year changes of -128.57% and +77.89%, respectively.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Cipher Mining Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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