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The latest trading session saw Cipher Mining Inc. (CIFR) ending at $3.08, denoting a +0.65% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.58% for the day. Meanwhile, the Dow experienced a rise of 0.75%, and the technology-dominated Nasdaq saw an increase of 0.55%.
The the stock of company has risen by 33.04% in the past month, leading the Business Services sector's loss of 2.56% and the S&P 500's loss of 0.84%.
The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company is expected to report EPS of -$0.11, down 184.62% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $49.35 million, up 2.51% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.38 per share and a revenue of $257.74 million, signifying shifts of -171.43% and +70.38%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cipher Mining Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. Currently, Cipher Mining Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 26% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.