Cipher Mining Inc. (CIFR) Increases Despite Market Slip: Here's What You Need to Know

In the latest market close, Cipher Mining Inc. (CIFR) reached $5.82, with a +1.57% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. On the other hand, the Dow registered a loss of 0.28%, and the technology-centric Nasdaq decreased by 1.2%.Prior to today's trading, shares of the company had gained 2.87% over the past month. This has lagged the Business Services sector's gain of 6.39% and outpaced the S&P 500's gain of 2.71% in that time.The investment community will be paying close attention to the earnings performance of Cipher Mining Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.10, reflecting a 300% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $37.52 million, down 13.6% from the prior-year quarter.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cipher Mining Inc. These recent revisions tend to reflect the evolving nature of short-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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Cipher Mining Inc. holds a Zacks Rank of #5 (Strong Sell).The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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 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