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Bitfarms (BITF) Stock Forecast & Price Target

$2.53
+0.08 (+3.27%)
(As of 07/12/2024 ET)

Bitfarms - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Consensus Price Target

$3.88
53.49% Upside
High Forecast$5.00
Average Forecast$3.88
Low Forecast$2.30
TypeCurrent Forecast
7/15/23 to 7/14/24
1 Month Ago
6/15/23 to 6/14/24
3 Months Ago
4/16/23 to 4/15/24
1 Year Ago
7/15/22 to 7/15/23
Consensus Rating
Moderate Buy
Moderate Buy
Buy
Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
4 Buy rating(s)
4 Buy rating(s)
4 Buy rating(s)
4 Buy rating(s)
Hold
1 Hold rating(s)
1 Hold rating(s)
0 Hold rating(s)
0 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$3.88$3.88$4.25$2.00
Forecasted Upside53.49% Upside85.39% Upside78.55% Upside83.27% Upside
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BITF Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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BITF Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Bitfarms Stock vs. The Competition

TypeBitfarmsBusiness Services CompaniesS&P 500
Consensus Rating Score
2.80
2.64
2.50
Consensus RatingModerate BuyModerate BuyModerate Buy
Predicted Upside53.49% Upside141.47% Upside9.17% Upside
News Sentiment RatingPositive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/9/2024HC Wainwright
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M. Colonnese
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Reiterated RatingBuy ➝ Buy$4.00 ➝ $4.00+50.09%
6/11/2024Cantor Fitzgerald
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B. Knoblauch
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Initiated CoverageOverweight ➝ Overweight$4.00 ➝ $5.00+117.39%
5/30/2024Stifel Nicolaus
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 DowngradeSpeculative Buy ➝ Hold$3.25 ➝ $2.30+3.14%
5/17/2024B. Riley
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L. Pipes
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Lower TargetBuy ➝ Buy$4.00 ➝ $3.00+66.68%
4/25/2024Northland Securities
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 Initiated CoverageOutperform$4.00+97.04%
8/9/2023Compass Point
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 Boost Target$4.50 ➝ $5.00+200.90%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 01:10 AM ET.

BITF Forecast - Frequently Asked Questions

What is Bitfarms' forecast for 2024?

According to the research reports of 5 Wall Street equities research analysts, the average twelve-month stock price forecast for Bitfarms is $3.88, with a high forecast of $5.00 and a low forecast of $2.30.

Should I buy or sell Bitfarms stock right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Bitfarms in the last year. There is currently 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" BITF shares.

Does Bitfarms's stock price have much upside?

According to analysts, Bitfarms's stock has a predicted upside of 80.15% based on their 12-month stock forecasts.

Has Bitfarms been downgraded by Wall Street analysts recently?

Over the previous 90 days, Bitfarms's stock had 1 downgrade by analysts.

What analysts cover Bitfarms?

Bitfarms has been rated by research analysts at B. Riley, Cantor Fitzgerald, HC Wainwright, Northland Securities, and Stifel Nicolaus in the past 90 days.

Do Wall Street analysts like Bitfarms more than its competitors?

Analysts like Bitfarms more than other "business services" companies. The consensus rating score for Bitfarms is 2.80 while the average consensus rating score for "business services" companies is 2.64. Learn more on how BITF compares to other companies.


This page (NASDAQ:BITF) was last updated on 7/14/2024 by MarketBeat.com Staff

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