In the latest trading session, Cipher Mining Inc. (CIFR) closed at $5.87, marking a -5.93% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.33% for the day. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the company had gained 62.5% in the past month. In that same time, the Business Services sector lost 2.01%, while the S&P 500 gained 4.07%.
The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. In that report, analysts expect Cipher Mining Inc. to post earnings of -$0.12 per share. This would mark a year-over-year decline of 140%. Alongside, our most recent consensus estimate is anticipating revenue of $48.37 million, indicating a 31.4% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.35 per share and a revenue of $260.21 million, indicating changes of -150% and +72.01%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Cipher Mining Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 18.82% higher. Right now, Cipher Mining Inc. possesses a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% of all industries, numbering over 250.
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.
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 Report
This article originally published on Zacks Investment Research (zacks.com).
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