Analyst John Todaro from Needham reiterated a Buy rating on Cipher Mining and increased the price target to $15.00 from $8.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
John Todaro’s rating is based on several compelling factors that highlight Cipher Mining’s strong potential for growth. One significant aspect is the company’s advantageous lease agreement with Fluidstack, which is supported by Google. This arrangement allows Cipher Mining to retain full economic benefits for the initial 168MW, which was more favorable than initially expected as it avoids a joint venture setup.
Additionally, Cipher Mining boasts one of the largest power pipelines, with access to 2.4GW of potential capacity, including future developments in NT power. The company’s strategic positioning is further strengthened by anticipated revenue growth in high-performance computing, starting in late 2026. These factors, combined with a de-risked profile due to Google’s involvement, have led to an increased target valuation multiple and a raised price target of $15 per share, reinforcing the Buy rating.
In another report released yesterday, KBW also maintained a Buy rating on the stock with a $13.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CIFR in relation to earlier this year.