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Bitfarms Ltd. (BITF) Outpaces Stock Market Gains: What You Should Know
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Bitfarms Ltd. (BITF - Free Report) closed at $1.74 in the latest trading session, marking a +1.16% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the company had gained 18.62% in the past month. In that same time, the Business Services sector gained 2.68%, while the S&P 500 gained 3.43%.
Wall Street will be looking for positivity from Bitfarms Ltd. as it approaches its next earnings report date. On that day, Bitfarms Ltd. is projected to report earnings of -$0.05 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.95 million, down 18.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $134.8 million. These totals would mark changes of +86.09% and -5.36%, respectively, from last year.
Any recent changes to analyst estimates for Bitfarms Ltd. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bitfarms Ltd. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 125, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bitfarms Ltd. (BITF) Outpaces Stock Market Gains: What You Should Know
Bitfarms Ltd. (BITF - Free Report) closed at $1.74 in the latest trading session, marking a +1.16% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the company had gained 18.62% in the past month. In that same time, the Business Services sector gained 2.68%, while the S&P 500 gained 3.43%.
Wall Street will be looking for positivity from Bitfarms Ltd. as it approaches its next earnings report date. On that day, Bitfarms Ltd. is projected to report earnings of -$0.05 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.95 million, down 18.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $134.8 million. These totals would mark changes of +86.09% and -5.36%, respectively, from last year.
Any recent changes to analyst estimates for Bitfarms Ltd. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Bitfarms Ltd. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 125, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.