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Cipher Mining Inc. (CIFR) Stock Sinks As Market Gains: What You Should Know
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In the latest market close, Cipher Mining Inc. (CIFR - Free Report) reached $4.24, with a -0.7% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
The company's stock has climbed by 4.4% in the past month, exceeding the Business Services sector's gain of 1.04% and the S&P 500's gain of 2.83%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. On that day, Cipher Mining Inc. is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 40%. In the meantime, our current consensus estimate forecasts the revenue to be $38.85 million, indicating a 24.44% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0 per share and a revenue of $150.64 million, demonstrating changes of +100% and +18.76%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Cipher Mining Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate has moved 100% higher within the past month. Cipher Mining Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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Cipher Mining Inc. (CIFR) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Cipher Mining Inc. (CIFR - Free Report) reached $4.24, with a -0.7% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
The company's stock has climbed by 4.4% in the past month, exceeding the Business Services sector's gain of 1.04% and the S&P 500's gain of 2.83%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. On that day, Cipher Mining Inc. is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 40%. In the meantime, our current consensus estimate forecasts the revenue to be $38.85 million, indicating a 24.44% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0 per share and a revenue of $150.64 million, demonstrating changes of +100% and +18.76%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Cipher Mining Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. The Zacks Consensus EPS estimate has moved 100% higher within the past month. Cipher Mining Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.