Cipher Mining Inc. (CIFR) closed the most recent trading day at $14.25, moving -12.36% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.51%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the company had lost 7.3% in the past month. In that same time, the Business Services sector lost 4.68%, while the S&P 500 gained 0.93%.
The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company is predicted to post an EPS of -$0.12, indicating a 300% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $79.59 million, indicating a 88.5% upward movement from the same quarter last year.
CIFR's full-year Zacks Consensus Estimates are calling for earnings of -$0.36 per share and revenue of $243.54 million. These results would represent year-over-year changes of -157.14% and 0%, respectively.
Any recent changes to analyst estimates for Cipher Mining Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Cipher Mining Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 40% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Free Report: Profiting from the 2nd Wave of AI Explosion
The next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.
Investors who bought shares like Nvidia at the right time have had a shot at huge gains.
But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.
Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.
Access AI Boom 2.0 now, absolutely free >>Cipher Mining Inc. (CIFR) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
