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(BITF) Advances While Market Declines: Some Information for Investors
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The most recent trading session ended with Bitfarms Ltd. (BITF - Free Report) standing at $1.01, reflecting a +1.74% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
Shares of the company have depreciated by 21.21% over the course of the past month, underperforming the Business Services sector's loss of 6.26% and the S&P 500's loss of 5.53%.
Analysts and investors alike will be keeping a close eye on the performance of Bitfarms Ltd. in its upcoming earnings disclosure. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.03 per share. This would mark year-over-year growth of 62.5%. Simultaneously, our latest consensus estimate expects the revenue to be $37.15 million, showing a 11.73% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.17 per share and a revenue of $140.95 million, representing changes of +85.22% and -1.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bitfarms Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Bitfarms Ltd. currently has a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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(BITF) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with Bitfarms Ltd. (BITF - Free Report) standing at $1.01, reflecting a +1.74% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
Shares of the company have depreciated by 21.21% over the course of the past month, underperforming the Business Services sector's loss of 6.26% and the S&P 500's loss of 5.53%.
Analysts and investors alike will be keeping a close eye on the performance of Bitfarms Ltd. in its upcoming earnings disclosure. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.03 per share. This would mark year-over-year growth of 62.5%. Simultaneously, our latest consensus estimate expects the revenue to be $37.15 million, showing a 11.73% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.17 per share and a revenue of $140.95 million, representing changes of +85.22% and -1.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bitfarms Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Bitfarms Ltd. currently has a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.