Cipher Mining Inc. (CIFR) Falls More Steeply Than Broader Market: What Investors Need to Know

Cipher Mining Inc. (CIFR) closed at $11.64 in the latest trading session, marking a -17.72% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.5%. On the other hand, the Dow registered a loss of 0.38%, and the technology-centric Nasdaq decreased by 0.5%. The company's shares have seen an increase of 102.29% over the last month, surpassing the Business Services sector's loss of 0.74% and the S&P 500's gain of 2.74%.Investors will be eagerly watching for the performance of Cipher Mining Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.06, indicating a 76.92% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.02 million, up 211.27% from the year-ago period. For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.32 per share and revenue of $269.1 million, which would represent changes of -128.57% and +77.89%, respectively, from the prior year. It is also important to note the recent changes to analyst estimates for Cipher Mining Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Cipher Mining Inc. holds a Zacks Rank of #2 (Buy). The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 35% echelons of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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. Free Report: Profiting from the 2nd Wave of AI ExplosionThe 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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cipher Mining Inc. (CIFR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks