Cipher Mining Inc. (CIFR) ended the recent trading session at $14.76, demonstrating a +1.17% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.74%. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.76%.
The company's stock has dropped by 17.29% in the past month, falling short of the Business Services sector's gain of 2.83% and the S&P 500's gain of 0.79%.
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 -$0.12, signifying a 300.00% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.59 million, up 88.5% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.36 per share and a revenue of $243.54 million, signifying shifts of -157.14% and +61%, respectively, from the last 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cipher Mining Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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