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Bitfarms Ltd. (BITF) Flat As Market Gains: What You Should Know
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The latest trading session saw Bitfarms Ltd. (BITF - Free Report) ending at $2.02, denoting no adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 0.36%.
The company's stock has dropped by 37.65% in the past month, falling short of the Business Services sector's gain of 1.34% and the S&P 500's gain of 2.4%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. On that day, Bitfarms Ltd. is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 42.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.82 million, up 43.58% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bitfarms Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business 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, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Bitfarms Ltd. currently has a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 26% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Bitfarms Ltd. (BITF) Flat As Market Gains: What You Should Know
The latest trading session saw Bitfarms Ltd. (BITF - Free Report) ending at $2.02, denoting no adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 0.36%.
The company's stock has dropped by 37.65% in the past month, falling short of the Business Services sector's gain of 1.34% and the S&P 500's gain of 2.4%.
Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. On that day, Bitfarms Ltd. is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 42.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.82 million, up 43.58% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bitfarms Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business 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, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Bitfarms Ltd. currently has a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 26% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.