Bernstein Reaffirms Their Buy Rating on Cipher Mining (CIFR)
Bernstein analyst Chad Dillard maintained a Buy rating on Cipher Mining yesterday and set a price target of $32.00. The company’s shares closed yesterday at $21.02.
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According to TipRanks, Dillard is a 4-star analyst with an average return of 8.8% and a 63.41% success rate. Dillard covers the Industrials sector, focusing on stocks such as Cummins, Caterpillar, and United Rentals.
Cipher Mining has an analyst consensus of Strong Buy, with a price target consensus of $30.39, which is a 44.58% upside from current levels. In a report released on June 4, Morgan Stanley also assigned a Buy rating to the stock with a $48.50 price target.
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 77 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, V3 Holding Ltd, a Major Shareholder at CIFR sold 1,200,000.00 shares for a total of $30,586,816.50.
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