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.
Bitfarms Ltd. (BITF) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Bitfarms Ltd. (BITF - Free Report) closed at $5.01 in the latest trading session, marking a -5.11% move from the prior day. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.52%.
Coming into today, shares of the company had gained 65% in the past month. In that same time, the Business Services sector lost 4.93%, while the S&P 500 gained 0.71%.
Analysts and investors alike will be keeping a close eye on the performance of Bitfarms Ltd. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.02, up 77.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $84.47 million, up 88.34% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.13 per share and revenue of $321.13 million, which would represent changes of +7.14% and +66.49%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bitfarms Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bitfarms Ltd. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bitfarms Ltd. (BITF) Stock Sinks As Market Gains: What You Should Know
Bitfarms Ltd. (BITF - Free Report) closed at $5.01 in the latest trading session, marking a -5.11% move from the prior day. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.52%.
Coming into today, shares of the company had gained 65% in the past month. In that same time, the Business Services sector lost 4.93%, while the S&P 500 gained 0.71%.
Analysts and investors alike will be keeping a close eye on the performance of Bitfarms Ltd. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.02, up 77.78% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $84.47 million, up 88.34% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.13 per share and revenue of $321.13 million, which would represent changes of +7.14% and +66.49%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bitfarms Ltd. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bitfarms Ltd. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.