Cipher Mining Inc. (CIFR) ended the recent trading session at $17.65, demonstrating a -6.96% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.13% for the day. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.72%.
The company's stock has climbed by 28.52% in the past month, exceeding the Business Services sector's loss of 5.79% and the S&P 500's gain of 0.78%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. On that day, Cipher Mining Inc. is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 300%. 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 0%, respectively, from the last year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Cipher Mining Inc. boasts a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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