Cipher Mining Inc. (NASDAQ:CIFR) Stock Has Average Target Price of $24.25

Key Points

• Analyst sentiment is broadly positive but mixed: 15 of 20 analysts rate Cipher Mining a buy, four a hold and one a sell, with an average 12-month price target of $24.25. Several firms have recently cut targets, and KBW downgraded the stock to Market Perform.
• Quarterly results were mixed: Cipher’s loss of $0.22 per share was narrower than the $0.25 loss analysts expected, but revenue of $26.7 million missed estimates and fell 62.8% year over year.
• Shares opened at $6.55, well below their 52-week high of $30.14. The article cites Texas political uncertainty around data-center projects as a headwind for Cipher and other miners expanding into AI infrastructure.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.25.

CIFR has been the topic of a number of analyst reports. Needham & Company LLC cut their price objective on shares of Cipher Mining from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, November 3rd. Keefe, Bruyette & Woods downgraded shares of Cipher Mining from an "outperform" rating to a "market perform" rating and set a $9.50 target price for the company. in a report on Wednesday. Morgan Stanley dropped their price target on shares of Cipher Mining from $54.00 to $51.50 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Sanford C. Bernstein cut their price target on shares of Cipher Mining from $32.00 to $23.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Freedom Capital raised shares of Cipher Mining to a "hold" rating in a research report on Friday, September 18th.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $6.55 on Friday. Cipher Mining has a fifty-two week low of $5.07 and a fifty-two week high of $30.14. The company has a debt-to-equity ratio of 9.10, a quick ratio of 3.00 and a current ratio of 1.69. The firm's 50-day simple moving average is $13.24 and its 200 day simple moving average is $17.47. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -2.13 and a beta of 3.53.

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

Hedge Funds Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. GK Wealth Management LLC bought a new stake in Cipher Mining during the third quarter worth $25,000. CoreCap Advisors LLC boosted its position in Cipher Mining by 41.7% in the second quarter. CoreCap Advisors LLC now owns 1,700 shares of the company's stock worth $42,000 after purchasing an additional 500 shares during the last quarter. Ancora Advisors LLC bought a new position in Cipher Mining in the 2nd quarter valued at $49,000. Harbor Investment Advisory LLC bought a new position in Cipher Mining in the 2nd quarter valued at $58,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Cipher Mining in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Key Headlines Impacting Cipher Mining

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

• Positive Sentiment: A broad rebound in AI-infrastructure shares lifted CIFR, following a steep selloff tied to Texas political uncertainty. Article: TeraWulf Rises 4% After Q3 Beat and Google-Backed Anthropic Lease; IREN Surges 17%, Cipher Digital Climbs 6%
• Neutral Sentiment: CIFR reportedly rose after earnings, with its latest quarterly loss per share narrower than analysts expected. However, revenue missed estimates and fell 62.8% year over year, making the results mixed. Article: Cipher Mining Shares Climb Following Strong Earnings
• Negative Sentiment: Texas political developments have raised concerns about the outlook for data-center projects, weighing on Cipher and other former crypto miners repositioning as AI infrastructure providers. Article: Cipher Digital Stock Falls After Texas Governor Upset
• Negative Sentiment: Several analysts lowered their expectations: Bernstein cut its price target to $23 but kept an Outperform rating, while Keefe, Bruyette & Woods cut its rating to Market Perform. Reports also cite target cuts from Cantor Fitzgerald, Needham and Rosenblatt, and a pessimistic JPMorgan outlook. Article: Bernstein Lowers Cipher Mining Price Target Article: KBW Cuts Cipher Mining Rating to Market Perform

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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