Why the Market Dipped But Cipher Mining Inc. (CIFR) Gained Today

Cipher Mining Inc. (CIFR) closed at $15.75 in the latest trading session, marking a +2.67% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.67%. Coming into today, shares of the company had gained 98.71% in the past month. In that same time, the Business Services sector lost 0.66%, while the S&P 500 gained 4.06%. The upcoming earnings release of Cipher Mining Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.08, reflecting a 69.23% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $75.48 million, indicating a 213.2% upward movement from the same quarter last year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.36 per share and a revenue of $264.16 million, indicating changes of -157.14% and +74.63%, respectively, from the former year. It's also important for investors to be aware of any recent modifications to analyst estimates for Cipher Mining Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 last 30 days, the Zacks Consensus EPS estimate has moved 14.74% lower. Cipher Mining Inc. is holding a Zacks Rank of #4 (Sell) right now. The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 37% of over 250 industries. The Zacks Industry Rank gauges the strength of our individual 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. Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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