7 analysts have shared their evaluations of Bitdeer Technologies (NASDAQ:BTDR) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 1 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 2 | 0 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $15.86, a high estimate of $20.00, and a low estimate of $13.00. This current average reflects an increase of 4.34% from the previous average price target of $15.20.
Exploring Analyst Ratings: An In-Depth Overview
A comprehensive examination of how financial experts perceive Bitdeer Technologies is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Mark Palmer | Benchmark | Raises | Buy | $16.00 | $13.00 |
| Lucas Pipes | B. Riley Securities | Raises | Buy | $14.00 | $9.00 |
| Darren Aftahi | Roth MKM | Maintains | Buy | $14.00 | $14.00 |
| Brett Knoblauch | Cantor Fitzgerald | Announces | Overweight | $13.00 | - |
| Mike Colonnese | HC Wainwright & Co. | Maintains | Buy | $20.00 | $20.00 |
| John Todaro | Needham | Maintains | Buy | $14.00 | - |
| Mike Colonnese | HC Wainwright & Co. | Maintains | Buy | $20.00 | $20.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Bitdeer Technologies. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Bitdeer Technologies compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Bitdeer Technologies's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Bitdeer Technologies's market standing. Stay informed and make well-considered decisions with our Ratings Table.
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Delving into Bitdeer Technologies's Background
Bitdeer Technologies Group is principally engaged in provision of digital asset mining services. Its majority business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. The company operates five proprietary mining datacenters in the United States and Norway.
Key Indicators: Bitdeer Technologies's Financial Health
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, Bitdeer Technologies showcased positive performance, achieving a revenue growth rate of 64.64% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Bitdeer Technologies's net margin excels beyond industry benchmarks, reaching 0.51%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Bitdeer Technologies's ROE stands out, surpassing industry averages. With an impressive ROE of 0.17%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.09%, the company showcases effective utilization of assets.
Debt Management: Bitdeer Technologies's debt-to-equity ratio is below the industry average at 0.25, reflecting a lower dependency on debt financing and a more conservative financial approach.
The Significance of Analyst Ratings Explained
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.