In the latest trading session, Cipher Mining Inc. (CIFR) closed at $17.57, marking a +1.04% move from the previous day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, added 0.28%.
Coming into today, shares of the company had gained 7.21% in the past month. In that same time, the Business Services sector lost 3.01%, while the S&P 500 gained 0.6%.
The upcoming earnings release of Cipher Mining Inc. will be of great interest to investors. The company is expected to report EPS of -$0.12, down 300% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $79.59 million, showing a 88.5% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.36 per share and revenue of $243.54 million. These totals would mark changes of -157.14% and 0%, respectively, from last year.
Investors should also note any recent changes 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 business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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 currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 32% of over 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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