We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bitfarms Ltd. (BITF) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $1.19, moving -1.65% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.43%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 2.43%.
The company's stock has climbed by 18.63% in the past month, exceeding the Business Services sector's loss of 2.63% and the S&P 500's loss of 1.55%.
The investment community will be paying close attention to the earnings performance of Bitfarms Ltd. in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. The company is expected to report EPS of -$0.03, up 62.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.15 million, up 11.73% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.17 per share and a revenue of $140.95 million, representing changes of +85.22% and -1.04%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Bitfarms Ltd. 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 company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Bitfarms Ltd. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bitfarms Ltd. (BITF) Dips More Than Broader Market: What You Should Know
Bitfarms Ltd. (BITF - Free Report) closed the most recent trading day at $1.19, moving -1.65% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 1.43%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 2.43%.
The company's stock has climbed by 18.63% in the past month, exceeding the Business Services sector's loss of 2.63% and the S&P 500's loss of 1.55%.
The investment community will be paying close attention to the earnings performance of Bitfarms Ltd. in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. The company is expected to report EPS of -$0.03, up 62.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.15 million, up 11.73% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.17 per share and a revenue of $140.95 million, representing changes of +85.22% and -1.04%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Bitfarms Ltd. 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 company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Bitfarms Ltd. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.