![]() ![]() "This has been a quarter of execution as we've made major progress toward achieving our stated year-end target of 16 EH/s," said Chief Executive Officer Zach Bradford. We have analyst estimates for CleanSpark going out as far as 2023, and you can see them free on our platform here.CleanSpark mined 1,871 bitcoin in its fiscal 2023 second quarter, a 109% increase over same prior year period. The consensus price target fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of CleanSpark's future valuation.įollowing on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. ![]() The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for CleanSpark. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect CleanSpark to grow faster than the wider industry. ![]() Compare this with other companies in the same industry, which are forecast to grow their revenue 14% annually. The analysts are definitely expecting CleanSpark's growth to accelerate, with the forecast 4x annualised growth to the end of 2022 ranking favourably alongside historical growth of 77% per annum over the past five years. The consensus price target fell 11% to US$42.50, suggesting that the analysts are primarily focused on earnings as the driver of value for this business.Īnother way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. ![]() Although there was a a major to revenue, the consensus also made a minor downgrade to its earnings per share forecasts. Overall it looks as though the analysts were a bit mixed on the latest results. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$191.5m and earnings per share (EPS) of US$2.50 in 2022. Earnings are expected to improve, with CleanSpark forecast to report a statutory profit of US$2.44 per share. Taking into account the latest results, the most recent consensus for CleanSpark from dual analysts is for revenues of US$198.4m in 2022 which, if met, would be a major 718% increase on its sales over the past 12 months. NasdaqCM:CLSK Earnings and Revenue Growth August 19th 2021 We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Unsurprisingly, the statutory profit the analysts had been forecasting evaporated, turning into a loss of US$0.49 per share. It was a pretty bad result overall, with revenues coming in 22% lower than the analysts predicted. (NASDAQ:CLSK) shares in the week since its quarterly report, with the stock down 20% to US$11.93. There's been a notable change in appetite for CleanSpark, Inc. ![]()
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