The latest trading session saw Cipher Mining Inc. (CIFR) ending at $3.06, denoting a -0.65% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.1%.
The the stock of company has risen by 32.76% in the past month, leading the Business Services sector's loss of 4.91% and the S&P 500's loss of 4.29%.
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 -$0.11 per share, which would represent a year-over-year decline of 184.62%. Meanwhile, the latest consensus estimate predicts the revenue to be $49.35 million, indicating a 2.51% increase compared to the same quarter of the previous year.
CIFR's full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $257.74 million. These results would represent year-over-year changes of -171.43% and +70.38%, respectively.
Investors should also take note of any recent adjustments to analyst estimates 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 company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Cipher Mining Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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