Cipher Mining Inc. (CIFR) closed the most recent trading day at $4.26, moving +1.67% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 1%, and the technology-centric Nasdaq increased by 0.52%.
Prior to today's trading, shares of the company had gained 28.92% outpaced the Business Services sector's loss of 0.47% and the S&P 500's gain of 5.95%.
Analysts and investors alike will be keeping a close eye on the performance of Cipher Mining Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.12, marking a 140% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $48.37 million, reflecting a 31.4% rise from the equivalent quarter last year.
CIFR's full-year Zacks Consensus Estimates are calling for earnings of -$0.35 per share and revenue of $260.21 million. These results would represent year-over-year changes of -150% and +72.01%, respectively.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 past month, there's been a 18.82% rise in the Zacks Consensus EPS estimate. 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 39, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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