Yahoo Finance Cipher Mining Inc. (CIFR) Falls More Steeply Than Broader Market: What Investors Need to Know
Cipher Mining Inc. (CIFR) closed the most recent trading day at $4.15, moving -0.95% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.41% for the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.71%.
The the stock of company has risen by 11.44% in the past month, leading the Business Services sector's gain of 0.6% and the S&P 500's gain of 3.53%.
The upcoming earnings release of Cipher Mining Inc. will be of great interest to investors. The company's upcoming EPS is projected at -$0.03, signifying a 40% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $38.85 million, up 24.44% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0 per share and revenue of $150.64 million, which would represent changes of +100% and +18.76%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Cipher Mining Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 100% increase. Cipher Mining Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 25% 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 Report
