Bitfarms Ltd. (BITF) Stock Moves -0.62%: What You Should Know

Bitfarms Ltd. (BITF) ended the recent trading session at $1.61, demonstrating a -0.62% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.54%. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 1.63%.Shares of the company witnessed a loss of 19.8% over the previous month, trailing the performance of the Business Services sector with its loss of 3.87% and the S&P 500's loss of 2.2%.Market participants will be closely following the financial results of Bitfarms Ltd. in its upcoming release. In that report, analysts expect Bitfarms Ltd. to post earnings of -$0.04 per share. This would mark year-over-year growth of 33.33%. In the meantime, our current consensus estimate forecasts the revenue to be $57.02 million, indicating a 23.3% growth compared to the corresponding quarter of the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bitfarms Ltd. Recent revisions tend to reflect the latest near-term business trends. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 25% higher within the past month. Bitfarms Ltd. is currently a Zacks Rank #3 (Hold).The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bitfarms Ltd. (BITF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks