Needham & Company LLC Issues Pessimistic Forecast for Cipher Mining (NASDAQ:CIFR) Stock Price

Key Points

• Needham cut Cipher Mining’s price target to $15 from $25 but maintained a Buy rating, implying approximately 96% upside from the stock’s $7.64 price. Analysts overall maintain a Moderate Buy consensus with a $26.29 average target.
• Cipher Mining’s quarterly loss of $0.22 per share beat expectations, but revenue of $26.7 million fell well short of the $39.31 million estimate and declined 62.8% year over year.
• The stock remains highly volatile and financially pressured, with a negative net margin, a debt-to-equity ratio of 9.69, and a 12-month range of $6.62 to $30.14.

Cipher Mining (NASDAQ:CIFR - Get Free Report) had its price target decreased by equities researchers at Needham & Company LLC from $25.00 to $15.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective would suggest a potential upside of 96.26% from the company's current price.

A number of other analysts have also recently weighed in on CIFR. Keefe, Bruyette & Woods cut their price objective on shares of Cipher Mining from $32.00 to $28.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Rosenblatt Securities dropped their target price on Cipher Mining from $30.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday. Chardan Capital reaffirmed a "buy" rating and issued a $32.00 price objective on shares of Cipher Mining in a report on Tuesday, August 4th. JPMorgan Chase & Co. cut their price target on shares of Cipher Mining from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Finally, Rothschild & Co Redburn assumed coverage on Cipher Mining in a report on Monday, September 21st. They set a "neutral" rating and a $18.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.29.

Cipher Mining Stock Up 11.4%

NASDAQ:CIFR traded up $0.78 during midday trading on Tuesday, reaching $7.64. The company had a trading volume of 11,065,111 shares, compared to its average volume of 31,106,445. The stock's fifty day simple moving average is $13.99 and its 200-day simple moving average is $17.70. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 9.69. Cipher Mining has a 12-month low of $6.62 and a 12-month high of $30.14. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -2.65 and a beta of 3.20.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued 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 net margin of 585.75% and a negative return on equity of 156.28%. The firm had revenue of $26.70 million for the quarter, compared to analysts' expectations of $39.31 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm's revenue was down 62.8% compared to the same quarter last year. On average, sell-side 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 have recently modified their holdings of the stock. CenterBook Partners LP purchased a new stake in shares of Cipher Mining during the 3rd quarter valued at $691,000. Kestra Advisory Services LLC boosted its holdings in Cipher Mining by 5.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 88,548 shares of the company's stock worth $1,401,000 after acquiring an additional 4,510 shares during the period. Covestor Ltd boosted its stake in shares of Cipher Mining by 10,781.8% in the third quarter. Covestor Ltd now owns 49,621 shares of the company's stock valued at $785,000 after purchasing an additional 49,165 shares during the period. Integrity Alliance LLC. purchased a new stake in shares of Cipher Mining during the third quarter worth about $1,274,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Cipher Mining during the 3rd quarter worth approximately $42,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining News Summary

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

• Positive Sentiment: Rosenblatt Securities maintained a Buy rating while lowering its price target to $19 from $30. The revised target still implies substantial upside from recent levels. Rosenblatt Securities recommendations
• Positive Sentiment: Cantor Fitzgerald retained an Overweight rating and reduced its target to $15 from $19, indicating that analysts continue to see long-term value despite near-term execution risks. Cantor Fitzgerald recommendations
• Positive Sentiment: Cipher Mining’s quarterly loss of $0.22 per share was narrower than the consensus loss estimate, helped in part by non-operating items. Cipher Mining Q3 earnings
• Neutral Sentiment: Keefe Bruyette cut its price target dramatically to $11 from $28, while H.C. Wainwright characterized the selloff as an attractive entry point. The divergent views highlight both the stock’s valuation potential and elevated risk. Keefe Bruyette price target
• Negative Sentiment: Third-quarter revenue was $26.7 million, well below the $39.3 million consensus estimate and down 62.8% year over year. Bitcoin-mining revenue fell 71%, while initial HPC rent of $5.9 million replaced only a portion of the lost revenue. Cipher Mining Q3 revenue results
• Negative Sentiment: Borrowings of approximately $5.6 billion produced $59 million in quarterly interest expense, increasing pressure on profitability before the HPC data halls reach full utilization. Management also pushed back on describing the company as a “neocloud,” adding uncertainty around its AI-hosting strategy. Cipher Mining earnings reaction

About Cipher Mining

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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