Is Cipher Mining (CIFR) Stock Outpacing Its Business Services Peers This Year?

Zacks
02-12

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Cipher Mining Inc. (CIFR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Cipher Mining Inc. is one of 288 individual stocks in the Business Services sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Cipher Mining Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CIFR's full-year earnings has moved 2.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, CIFR has gained about 22.8% so far this year. In comparison, Business Services companies have returned an average of 10.5%. This means that Cipher Mining Inc. is performing better than its sector in terms of year-to-date returns.

Another Business Services stock, which has outperformed the sector so far this year, is Gambling.com Group Limited (GAMB). The stock has returned 12.6% year-to-date.

In Gambling.com Group Limited's case, the consensus EPS estimate for the current year increased 4.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Cipher Mining Inc. belongs to the Technology Services industry, a group that includes 152 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, this group has gained an average of 20.6% so far this year, meaning that CIFR is performing better in terms of year-to-date returns.

Gambling.com Group Limited, however, belongs to the Advertising and Marketing industry. Currently, this 18-stock industry is ranked #165. The industry has moved -4.3% so far this year.

Investors with an interest in Business Services stocks should continue to track Cipher Mining Inc. and Gambling.com Group Limited. These stocks will be looking to continue their solid performance.

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