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Investing.com - Rosenblatt Securities has reiterated its Buy rating and $7.00 price target on Cipher Mining (NASDAQ:CIFR), currently trading at $4.87, following the company’s second-quarter results. The target represents a 44% upside from current levels, while InvestingPro analysis suggests the stock is currently fairly valued.
The research firm highlighted Cipher Mining’s solid quarterly performance and encouraging management commentary, maintaining its view that CIFR remains one of its top picks in the cryptocurrency mining sector. With analysts forecasting significant sales growth and a return to profitability this year, the $1.81 billion market cap company shows promising momentum despite its current gross profit margin of 18%.
Rosenblatt acknowledged disappointment in the lack of material progress on high-performance computing (HPC) initiatives but noted that extended negotiation and due diligence timelines are common for large, multi-year contracts in this space.
The firm continues to view Cipher Mining as well-positioned to capitalize on HPC opportunities due to its "compelling combination of top-tier power assets and proven ability to execute" alongside what it describes as a "best-in-class mining operation."
Rosenblatt’s $7 price target is based on 11 times its 2026 Adjusted EBITDA estimate for the company, with the firm citing a "powerful potential catalyst" as part of its investment thesis.
In other recent news, Cipher Mining reported its second-quarter earnings for 2025, which fell short of market expectations. The company posted a revenue of $43.57 million, missing the anticipated $51.18 million. Additionally, Cipher Mining’s earnings per share (EPS) came in at -$0.12, below the forecast of -$0.0776. Despite these results, Macquarie has raised its price target for Cipher Mining to $8.00 from $6.00, maintaining an Outperform rating. The company’s reported operating loss was $45.8 million, which was worse than both the consensus and Macquarie estimates. Analysts had projected operating losses of $17.6 million and $20.9 million, respectively. These recent developments highlight the challenges faced by Cipher Mining in meeting financial expectations.
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