Cipher Mining Inc. (CIFR) ended the recent trading session at $18.70, demonstrating a -11.1% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 0.47%.
Shares of the company witnessed a gain of 69.87% over the previous month, beating the performance of the Business Services sector with its loss of 2.82%, and the S&P 500's gain of 0.92%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.08, signifying a 69.23% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $75.48 million, indicating a 213.2% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.36 per share and a revenue of $264.16 million, demonstrating changes of -157.14% and +74.63%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Cipher Mining Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 14.74% downward. Right now, Cipher Mining Inc. possesses a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 50, positioning it in the top 21% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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