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Is Cipher Mining (CIFR) Outperforming Other Business Services Stocks This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cipher Mining Inc. (CIFR - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Cipher Mining Inc. is one of 315 companies in the Business Services group. The Business Services group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cipher Mining Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CIFR's full-year earnings has moved 100% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CIFR has returned 64.2% so far this year. Meanwhile, stocks in the Business Services group have gained about 6.8% on average. This means that Cipher Mining Inc. is outperforming the sector as a whole this year.
Another stock in the Business Services sector, Enviri (NVRI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 15.3%.
The consensus estimate for Enviri's current year EPS has increased 158.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cipher Mining Inc. belongs to the Technology Services industry, which includes 170 individual stocks and currently sits at #99 in the Zacks Industry Rank. This group has gained an average of 27.6% so far this year, so CIFR is performing better in this area.
On the other hand, Enviri belongs to the Waste Removal Services industry. This 19-stock industry is currently ranked #102. The industry has moved +22% year to date.
Investors interested in the Business Services sector may want to keep a close eye on Cipher Mining Inc. and Enviri as they attempt to continue their solid performance.
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Is Cipher Mining (CIFR) Outperforming Other Business Services Stocks This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cipher Mining Inc. (CIFR - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Cipher Mining Inc. is one of 315 companies in the Business Services group. The Business Services group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cipher Mining Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CIFR's full-year earnings has moved 100% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CIFR has returned 64.2% so far this year. Meanwhile, stocks in the Business Services group have gained about 6.8% on average. This means that Cipher Mining Inc. is outperforming the sector as a whole this year.
Another stock in the Business Services sector, Enviri (NVRI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 15.3%.
The consensus estimate for Enviri's current year EPS has increased 158.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cipher Mining Inc. belongs to the Technology Services industry, which includes 170 individual stocks and currently sits at #99 in the Zacks Industry Rank. This group has gained an average of 27.6% so far this year, so CIFR is performing better in this area.
On the other hand, Enviri belongs to the Waste Removal Services industry. This 19-stock industry is currently ranked #102. The industry has moved +22% year to date.
Investors interested in the Business Services sector may want to keep a close eye on Cipher Mining Inc. and Enviri as they attempt to continue their solid performance.