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Are Business Services Stocks Lagging Cipher Mining (CIFR) This Year?
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Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Cipher Mining Inc. (CIFR - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Cipher Mining Inc. is a member of our Business Services group, which includes 315 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cipher Mining Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CIFR's full-year earnings has moved 30.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CIFR has returned about 27.4% since the start of the calendar year. In comparison, Business Services companies have returned an average of 8.9%. This means that Cipher Mining Inc. is performing better than its sector in terms of year-to-date returns.
Procore Technologies (PCOR - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17.9%.
For Procore Technologies, the consensus EPS estimate for the current year has increased 28% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cipher Mining Inc. belongs to the Technology Services industry, a group that includes 174 individual companies and currently sits at #81 in the Zacks Industry Rank. Stocks in this group have gained about 17.9% so far this year, so CIFR is performing better this group in terms of year-to-date returns. Procore Technologies is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Cipher Mining Inc. and Procore Technologies. These stocks will be looking to continue their solid performance.
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Are Business Services Stocks Lagging Cipher Mining (CIFR) This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Cipher Mining Inc. (CIFR - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Cipher Mining Inc. is a member of our Business Services group, which includes 315 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cipher Mining Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CIFR's full-year earnings has moved 30.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CIFR has returned about 27.4% since the start of the calendar year. In comparison, Business Services companies have returned an average of 8.9%. This means that Cipher Mining Inc. is performing better than its sector in terms of year-to-date returns.
Procore Technologies (PCOR - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17.9%.
For Procore Technologies, the consensus EPS estimate for the current year has increased 28% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cipher Mining Inc. belongs to the Technology Services industry, a group that includes 174 individual companies and currently sits at #81 in the Zacks Industry Rank. Stocks in this group have gained about 17.9% so far this year, so CIFR is performing better this group in terms of year-to-date returns. Procore Technologies is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Cipher Mining Inc. and Procore Technologies. These stocks will be looking to continue their solid performance.