Cipher Mining Inc. (CIFR) Gains As Market Dips: What You Should Know

In the latest market close, Cipher Mining Inc. (CIFR) reached $6.08, with a +1% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.43% for the day. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.47%.Coming into today, shares of the company had gained 9.26% in the past month. In that same time, the Business Services sector gained 18.96%, while the S&P 500 gained 2.6%.The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company is slated to reveal its earnings on February 25, 2025. It is anticipated that the company will report an EPS of -$0.10, marking a 300% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $39.18 million, showing a 9.77% drop compared to the year-ago quarter.Investors should also pay attention to any latest changes in analyst estimates for Cipher Mining Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.5% increase. Cipher Mining Inc. is currently sporting a Zacks Rank of #2 (Buy).The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Cipher Mining Inc. (CIFR): 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