Needham Sticks to Their Buy Rating for Cipher Mining (CIFR)
In a report released today, John Todaro from Needham reiterated a Buy rating on Cipher Mining, with a price target of $25.00.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
According to TipRanks, Todaro is a top 100 analyst with an average return of 72.0% and a 69.75% success rate. Todaro covers the Financial sector, focusing on stocks such as TeraWulf Inc, MARA Holdings, and Riot Platforms.
Cipher Mining has an analyst consensus of Strong Buy, with a price target consensus of $29.05.
Based on Cipher Mining’s latest earnings release for the quarter ending March 23, the company reported a quarterly revenue of $34.84 million and a GAAP net loss of $114.32 million. In comparison, last year the company earned a revenue of $48.96 million and had a GAAP net loss of $38.98 million
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CIFR in relation to earlier this year. Earlier this month, Patrick Arthur Kelly, the Co-President and COO of CIFR sold 48,000.00 shares for a total of $929,280.00.
Read More on CIFR:
