Cipher Mining Inc. (CIFR) ended the recent trading session at $2.44, demonstrating a +0.83% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.79%. Elsewhere, the Dow saw an upswing of 0.78%, while the tech-heavy Nasdaq appreciated by 0.64%.
Heading into today, shares of the company had lost 20.4% over the past month, lagging the Business Services sector's loss of 2.73% and the S&P 500's loss of 3.56% in that time.
The upcoming earnings release of Cipher Mining Inc. will be of great interest to investors. The company's upcoming EPS is projected at -$0.11, signifying a 184.62% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $49.65 million, up 3.13% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.38 per share and revenue of $276.02 million, indicating changes of -171.43% and +82.47%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cipher Mining Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 127.27% lower. Cipher Mining Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
To follow CIFR in the coming trading sessions, be sure to utilize Zacks.com.
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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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