Key Highlights:
- Cipher Mining (CIFR, Financial) shares skyrocketed by 44% in the past week.
- The surge is attributed to successful outcomes from phase I of their Black Pearl crypto mining project.
- Analysts forecast a positive outlook with an average price target of $7.04.
Cipher Mining Inc. (CIFR) experienced a remarkable 44% increase in its share price over the past week. This surge places it at the forefront of financial stocks with a market capitalization exceeding $2 billion. The increase is largely driven by promising results from phase I of its Black Pearl crypto mining site and a general uplift in the market.
Analyst Forecasts and Price Targets
Wall Street analysts have set a positive outlook for Cipher Mining Inc. (CIFR, Financial), providing one-year price targets that average at $7.04. The estimates range from a high of $9.00 to a low of $5.50, suggesting an average upside potential of 16.30% from the current share price of $6.05. Investors can explore more detailed projections on the Cipher Mining Inc (CIFR) Forecast page.
Brokerage Recommendations
The consensus from 11 brokerage firms rates Cipher Mining Inc. (CIFR, Financial) at an average of 1.9 on the recommendation scale, which translates to an "Outperform" status. This scale ranges from 1 to 5, with 1 indicating a Strong Buy and 5 a Sell. Such a rating suggests that analysts are optimistic about the company's stock performance in the near term.
