Cipher Digital Inc. (CIFR) ended the recent trading session at $16.74, demonstrating a -5.58% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.77%. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, lost 0.92%.
The stock of company has risen by 16.88% in the past month, leading the Business Services sector's loss of 5.02% and the S&P 500's gain of 0.96%.
Investors will be eagerly watching for the performance of Cipher Digital Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.31, marking a 3000% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $37.99 million, indicating a 47.02% downward movement from the same quarter last year.
CIFR's full-year Zacks Consensus Estimates are calling for earnings of -$1.36 per share and revenue of $216.23 million. These results would represent year-over-year changes of +36.74% and -3.44%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Cipher Digital Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business 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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Cipher Digital Inc. possesses a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Cipher Digital Inc. (CIFR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).