Cipher Digital Inc. (CIFR) closed at $22.11 in the latest trading session, marking a -4.94% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.29%.
Shares of the company witnessed a gain of 2.78% over the previous month, trailing the performance of the Business Services sector with its gain of 2.8%, and outperforming the S&P 500's gain of 2.2%.
Investors will be eagerly watching for the performance of Cipher Digital Inc. in its upcoming earnings disclosure. In that report, analysts expect Cipher Digital Inc. to post earnings of -$0.24 per share. This would mark a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $29.79 million, down 31.62% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.8 per share and a revenue of $232.16 million, indicating changes of +62.79% and +3.67%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Cipher Digital Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Cipher Digital Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Cipher Digital Inc. (CIFR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).