Cipher Mining (NASDAQ:CIFR) Stock Gets Price Target Cut from Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut its Cipher Mining price target from $32 to $23 but maintained an “outperform” rating; the new target implies 253.85% upside from the prior close.
• Other analysts also lowered targets, though overall sentiment remains positive: MarketBeat reports a “Moderate Buy” consensus and an average target of $24.25.
• Cipher Mining’s quarterly loss per share was narrower than expected, but revenue missed estimates at $26.7 million and fell 62.8% year over year.

Cipher Mining (NASDAQ:CIFR - Get Free Report) had its target price reduced by research analysts at Sanford C. Bernstein from $32.00 to $23.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Sanford C. Bernstein's price target points to a potential upside of 253.85% from the stock's previous close.

CIFR has been the subject of a number of other research reports. Rosenblatt Securities dropped their target price on shares of Cipher Mining from $30.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a report on Monday. Cantor Fitzgerald dropped their price target on Cipher Mining from $19.00 to $15.00 and set an "overweight" rating for the company in a research note on Tuesday. Chardan Capital restated a "buy" rating and set a $32.00 price target on shares of Cipher Mining in a report on Tuesday, August 4th. Finally, Freedom Capital raised Cipher Mining to a "hold" rating in a research note on Friday, September 18th. Fifteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Cipher Mining presently has an average rating of "Moderate Buy" and a consensus price target of $24.25.

Cipher Mining Price Performance

NASDAQ:CIFR opened at $6.50 on Wednesday. Cipher Mining has a one year low of $6.18 and a one year high of $30.14. The business has a fifty day moving average price of $13.65 and a 200-day moving average price of $17.59. The company has a debt-to-equity ratio of 9.10, a quick ratio of 3.00 and a current ratio of 1.69.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.03. Cipher Mining had a negative return on equity of 161.74% and a negative net margin of 742.33%. The company had revenue of $26.70 million for the quarter, compared to the consensus estimate of $39.31 million. During the same period in the previous year, the business earned $0.10 earnings per share. Cipher Mining's quarterly revenue was down 62.8% compared to the same quarter last year. Analysts anticipate that Cipher Mining will post -1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Cipher Mining by 567.1% in the 2nd quarter. Wellington Management Group LLP now owns 3,985,806 shares of the company's stock worth $97,652,000 after buying an additional 3,388,359 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Cipher Mining by 1.9% during the first quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company's stock valued at $56,292,000 after purchasing an additional 81,192 shares in the last quarter. Moore Capital Management LP bought a new position in Cipher Mining in the second quarter worth approximately $35,077,000. Jennison Associates LLC raised its stake in Cipher Mining by 48.7% in the first quarter. Jennison Associates LLC now owns 2,519,281 shares of the company's stock worth $32,423,000 after buying an additional 824,618 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Cipher Mining during the first quarter worth $24,486,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Cipher Mining News

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: Coverage described Cipher’s quarterly results as strong, and its shares climbed after the report. The company’s loss per share was narrower than analysts expected, although revenue fell short of estimates and declined substantially year over year. Cipher Mining shares climb following earnings
• Positive Sentiment: Cipher has begun recording revenue from an HPC lease, while its Barber Lake expansion and development pipeline point to a growing AI-infrastructure business. These contracts could help offset the longer-term shift away from Bitcoin mining, though delivery and financing remain important. Cipher books first HPC lease revenue
• Neutral Sentiment: The reports highlight a large contracted-revenue base and a substantial power-development pipeline, but these are forward-looking opportunities rather than proof that projects will be completed on schedule or generate expected returns. Q3 earnings call highlights
• Negative Sentiment: Several firms lowered price targets, and Keefe, Bruyette & Woods cut its rating from “outperform” to “market perform,” setting a $9.50 target. The revisions signal reduced expectations after CIFR’s sharp decline, even though some firms retained positive ratings. KBW cuts Cipher Mining rating
• Negative Sentiment: Investors remain concerned that AI-data-center projects require heavy capital and could be delayed by tighter regulation. Sector-wide financing worries have also hurt CIFR, including after its convertible-debt offering. Regulatory concerns pressure Cipher stock

Cipher Mining Company Profile

Cipher Mining Inc NASDAQ: CIFR is a bitcoin mining company that develops and operates large-scale data center infrastructure in the United States. The company uses specialized application-specific integrated circuit (ASIC) computers to validate transactions on the Bitcoin network and earn bitcoin rewards.

Cipher focuses on securing access to cost-effective power, building and managing mining facilities, and deploying high-performance computing equipment. Its operations are supported by power infrastructure, cooling systems, networking equipment and other data center technologies required for energy-intensive digital asset mining.

The company was formed through the combination of Cipher Mining Technologies Inc and Good Works Acquisition Corp.

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