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Bitfarms Ltd. (BITF) Stock Moves -0.34%: What You Should Know
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In the latest market close, Bitfarms Ltd. (BITF - Free Report) reached $2.96, with a -0.34% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.39%. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, lost 2.77%.
Prior to today's trading, shares of the company had lost 5.71% over the past month. This has lagged the Business Services sector's gain of 0.5% and the S&P 500's gain of 4.43% in that time.
Investors will be eagerly watching for the performance of Bitfarms Ltd. in its upcoming earnings disclosure. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.11 per share. This would mark a year-over-year decline of 57.14%. At the same time, our most recent consensus estimate is projecting a revenue of $45.29 million, reflecting a 27.66% rise from the equivalent quarter last year.
BITF's full-year Zacks Consensus Estimates are calling for earnings of -$0.23 per share and revenue of $235.14 million. These results would represent year-over-year changes of -9.52% and +60.65%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Bitfarms Ltd. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 a 15.19% fall in the Zacks Consensus EPS estimate. At present, Bitfarms Ltd. boasts a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Bitfarms Ltd. (BITF) Stock Moves -0.34%: What You Should Know
In the latest market close, Bitfarms Ltd. (BITF - Free Report) reached $2.96, with a -0.34% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.39%. Meanwhile, the Dow gained 0.6%, and the Nasdaq, a tech-heavy index, lost 2.77%.
Prior to today's trading, shares of the company had lost 5.71% over the past month. This has lagged the Business Services sector's gain of 0.5% and the S&P 500's gain of 4.43% in that time.
Investors will be eagerly watching for the performance of Bitfarms Ltd. in its upcoming earnings disclosure. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.11 per share. This would mark a year-over-year decline of 57.14%. At the same time, our most recent consensus estimate is projecting a revenue of $45.29 million, reflecting a 27.66% rise from the equivalent quarter last year.
BITF's full-year Zacks Consensus Estimates are calling for earnings of -$0.23 per share and revenue of $235.14 million. These results would represent year-over-year changes of -9.52% and +60.65%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Bitfarms Ltd. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 a 15.19% fall in the Zacks Consensus EPS estimate. At present, Bitfarms Ltd. boasts a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.