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Here's Why Cipher Digital Inc. (CIFR) Fell More Than Broader Market
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Cipher Digital Inc. (CIFR - Free Report) closed the most recent trading day at $25.68, moving -2.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.46%.
The company's shares have seen an increase of 4.21% over the last month, surpassing the Business Services sector's loss of 1.21% and the S&P 500's loss of 1.4%.
Investors will be eagerly watching for the performance of Cipher Digital Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.24, down 100% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $29.79 million, indicating a 31.62% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.8 per share and revenue of $232.16 million, indicating changes of +62.79% and +3.67%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Cipher Digital Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. As of now, Cipher Digital Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 34% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Here's Why Cipher Digital Inc. (CIFR) Fell More Than Broader Market
Cipher Digital Inc. (CIFR - Free Report) closed the most recent trading day at $25.68, moving -2.06% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.46%.
The company's shares have seen an increase of 4.21% over the last month, surpassing the Business Services sector's loss of 1.21% and the S&P 500's loss of 1.4%.
Investors will be eagerly watching for the performance of Cipher Digital Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.24, down 100% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $29.79 million, indicating a 31.62% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.8 per share and revenue of $232.16 million, indicating changes of +62.79% and +3.67%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Cipher Digital Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. As of now, Cipher Digital Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 34% of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.