Cipher Mining Inc. (CIFR) ended the recent trading session at $16.08, demonstrating a -8.32% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.34%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq added 0.16%.
Shares of the company witnessed a loss of 10.33% over the previous month, trailing the performance of the Business Services sector with its gain of 2.46%, and the S&P 500's gain of 1.19%.
The investment community will be closely monitoring the performance of Cipher Mining Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.12, down 300% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $79.59 million, up 88.5% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and a revenue of $243.54 million, representing changes of -157.14% and 0%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Cipher Mining Inc. presently features a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 109, this industry ranks in the top 45% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on 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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