In the latest trading session, Bitfarms Ltd. (BITF) closed at $0.75, marking a -6.24% move from the previous day. This change lagged the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 1%, and the technology-centric Nasdaq increased by 0.52%.
Coming into today, shares of the company had lost 14.97% in the past month. In that same time, the Business Services sector lost 0.47%, while the S&P 500 gained 5.95%.
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The upcoming earnings release of Bitfarms Ltd. will be of great interest to investors. The company is expected to report EPS of -$0.03, up 57.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $77.31 million, up 86.06% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.12 per share and a revenue of $320.26 million, demonstrating changes of +14.29% and +66.04%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Bitfarms Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Bitfarms Ltd. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 39, finds itself in the top 16% echelons of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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