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Cipher Mining Inc. (CIFR) Increases Despite Market Slip: Here's What You Need to Know
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In the latest market close, Cipher Mining Inc. (CIFR - Free Report) reached $5.82, with a +1.57% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. On the other hand, the Dow registered a loss of 0.28%, and the technology-centric Nasdaq decreased by 1.2%.
Prior to today's trading, shares of the company had gained 2.87% over the past month. This has lagged the Business Services sector's gain of 6.39% and outpaced the S&P 500's gain of 2.71% in that time.
The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.10, reflecting a 300% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $37.52 million, down 13.6% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Cipher Mining Inc. holds a Zacks Rank of #5 (Strong Sell).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cipher Mining Inc. (CIFR) Increases Despite Market Slip: Here's What You Need to Know
In the latest market close, Cipher Mining Inc. (CIFR - Free Report) reached $5.82, with a +1.57% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. On the other hand, the Dow registered a loss of 0.28%, and the technology-centric Nasdaq decreased by 1.2%.
Prior to today's trading, shares of the company had gained 2.87% over the past month. This has lagged the Business Services sector's gain of 6.39% and outpaced the S&P 500's gain of 2.71% in that time.
The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.10, reflecting a 300% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $37.52 million, down 13.6% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Cipher Mining Inc. holds a Zacks Rank of #5 (Strong Sell).
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.