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Cipher Mining Inc. (CIFR) Falls More Steeply Than Broader Market: What Investors Need to Know
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Cipher Mining Inc. (CIFR - Free Report) ended the recent trading session at $4.11, demonstrating a -0.72% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the company had gained 15.32% in the past month. In that same time, the Business Services sector gained 4.62%, while the S&P 500 gained 2.43%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 14.29% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $28.81 million, down 4.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.05 per share and revenue of $154.1 million, indicating changes of +50% and +21.49%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Cipher Mining Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cipher Mining Inc. (CIFR) Falls More Steeply Than Broader Market: What Investors Need to Know
Cipher Mining Inc. (CIFR - Free Report) ended the recent trading session at $4.11, demonstrating a -0.72% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the company had gained 15.32% in the past month. In that same time, the Business Services sector gained 4.62%, while the S&P 500 gained 2.43%.
Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 14.29% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $28.81 million, down 4.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.05 per share and revenue of $154.1 million, indicating changes of +50% and +21.49%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Cipher Mining Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.