We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why the Market Dipped But Bitfarms Ltd. (BITF) Gained Today
Read MoreHide Full Article
The most recent trading session ended with Bitfarms Ltd. (BITF - Free Report) standing at $1, reflecting a +0.61% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
The company's shares have seen a decrease of 11.36% over the last month, not keeping up with the Business Services sector's loss of 3.96% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. The company is predicted to post an EPS of -$0.03, indicating a 62.5% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.15 million, up 11.73% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $140.95 million. These totals would mark changes of +85.22% and -1.04%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Bitfarms Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bitfarms Ltd. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Market Dipped But Bitfarms Ltd. (BITF) Gained Today
The most recent trading session ended with Bitfarms Ltd. (BITF - Free Report) standing at $1, reflecting a +0.61% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
The company's shares have seen a decrease of 11.36% over the last month, not keeping up with the Business Services sector's loss of 3.96% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. The company is predicted to post an EPS of -$0.03, indicating a 62.5% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $37.15 million, up 11.73% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $140.95 million. These totals would mark changes of +85.22% and -1.04%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Bitfarms Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bitfarms Ltd. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.