Bitfarms (BITF) Stock Forecast, Price Target & Predictions
BITF Stock Forecast
Bitfarms stock forecast is as follows: an average price target of $4.26 (represents a 101.90% upside from BITF’s last price of $2.11) and a rating consensus of 'Buy', based on 5 wall street analysts offering a 1-year stock forecast.
BITF Price Target
The average price target for Bitfarms (BITF) is $4.26 based on 1-year price targets from 5 Wall Street analysts in the past 3 months, with a price target range of $6.00 to $2.30. This represents a potential 101.90% upside from BITF's last price of $2.11.
BITF Analyst Ratings
According to 5 Wall Street analysts, Bitfarms's rating consensus is 'Buy'. The analyst rating breakdown for BITF stock is 0 'Strong Buy' (0.00%), 5 'Buy' (100.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Bitfarms Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Jun 10, 2024 | Brett Knoblauch | Cantor Fitzgerald | $5.00 | $2.30 | 117.39% | 136.97% |
| Jun 04, 2024 | Mike Colonnese | H.C. Wainwright | $4.00 | $2.33 | 71.67% | 89.57% |
| May 29, 2024 | Bill Papanastasiou | Stifel Nicolaus | $2.30 | $2.18 | 5.50% | 9.00% |
| May 21, 2024 | Joe Flynn | Compass Point | $6.00 | $1.89 | 217.46% | 184.36% |
| Apr 25, 2024 | Mike Grondahl | Northland Securities | $4.00 | $1.98 | 102.02% | 89.57% |
The latest Bitfarms stock forecast, released on Jun 10, 2024 by Brett Knoblauch from Cantor Fitzgerald, set a price target of $5.00, which represents a 117.39% increase from the stock price at the time of the forecast ($2.30), and a 136.97% increase from BITF last price ($2.11).
Bitfarms Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | - | 5 |
| Avg Price Target | - | - | $4.26 |
| Last Closing Price | $2.11 | $2.11 | $2.11 |
| Upside/Downside | -100.00% | -100.00% | 101.90% |
In the current month, the average price target of Bitfarms stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Bitfarms's last price of $2.11. This month's average price target is down NaN% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Sep 23, 2024 | H.C. Wainwright | Buy | Buy | Hold |
| Jul 19, 2024 | H.C. Wainwright | Buy | Buy | Hold |
| Jun 17, 2024 | H.C. Wainwright | Buy | Buy | Hold |
| May 21, 2024 | Compass Point | Buy | Buy | Hold |
| May 17, 2024 | B. Riley | Buy | Buy | Hold |
| Apr 01, 2024 | ATB Capital | - | Outperform | Initialise |
| Nov 29, 2023 | Barclays | Buy | Buy | Hold |
Bitfarms's last stock rating was published by H.C. Wainwright on Sep 23, 2024. The company gave BITF a "Buy" rating, the same as its previous rate.
Bitfarms Financial Forecast
Bitfarms Revenue Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $34.60M | $35.48M | $30.64M | $-1.53M | $-11.08M | $-36.06M | $40.30M | $59.46M | $44.60M | $36.73M | $28.41M | $11.39M |
| Avg Forecast | $147.01M | $131.07M | $110.92M | $94.84M | $68.06M | $46.28M | $44.62M | $50.95M | $43.08M | $34.24M | $34.60M | $29.60M | $25.60M | $37.60M | $48.30M | $39.60M | $62.60M | $46.60M | $22.70M | $24.00M | $9.40M |
| High Forecast | $190.60M | $169.93M | $143.80M | $123.71M | $87.52M | $50.96M | $44.62M | $50.95M | $46.53M | $34.30M | $44.86M | $38.38M | $33.19M | $37.60M | $48.30M | $39.60M | $62.60M | $46.60M | $22.70M | $24.00M | $9.40M |
| Low Forecast | $93.36M | $83.24M | $70.44M | $58.59M | $44.83M | $44.44M | $44.62M | $50.95M | $39.63M | $34.18M | $21.97M | $18.80M | $16.26M | $37.60M | $48.30M | $39.60M | $62.60M | $46.60M | $22.70M | $24.00M | $9.40M |
| # Analysts | 1 | 1 | 1 | 4 | 6 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.01% | 1.03% | 1.04% | -0.06% | -0.29% | -0.75% | 1.02% | 0.95% | 0.96% | 1.62% | 1.18% | 1.21% |
Bitfarms's average Quarter revenue forecast for Dec 23 based on 3 analysts is $43.08M, with a low forecast of $39.63M, and a high forecast of $46.53M. BITF's average Quarter revenue forecast represents a 24.52% increase compared to the company's last Quarter revenue of $34.60M (Sep 23).
Bitfarms EBITDA Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 6 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 |
| EBITDA | - | - | - | - | - | - | - | - | - | $2.45M | $5.00M | $6.34M | $-38.66M | $5.77M | $-138.67M | $16.94M | $29.06M | $41.76M | $2.75M | $-27.35M | $-8.45M |
| Avg Forecast | $49.09M | $43.76M | $37.03M | $31.67M | $22.73M | $15.45M | $14.90M | $17.01M | $14.38M | $11.43M | $11.55M | $9.88M | $8.55M | $13.85M | $17.79M | $14.59M | $23.06M | $17.17M | $8.36M | $8.84M | $3.46M |
| High Forecast | $63.64M | $56.74M | $48.01M | $41.30M | $29.22M | $17.02M | $14.90M | $17.01M | $15.54M | $11.45M | $14.98M | $12.81M | $11.08M | $13.85M | $17.79M | $14.59M | $23.06M | $17.17M | $8.36M | $8.84M | $3.46M |
| Low Forecast | $31.17M | $27.79M | $23.52M | $19.56M | $14.97M | $14.84M | $14.90M | $17.01M | $13.23M | $11.41M | $7.34M | $6.28M | $5.43M | $13.85M | $17.79M | $14.59M | $23.06M | $17.17M | $8.36M | $8.84M | $3.46M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.21% | 0.43% | 0.64% | -4.52% | 0.42% | -7.79% | 1.16% | 1.26% | 2.43% | 0.33% | -3.09% | -2.44% |
3 analysts predict BITF's average Quarter EBITDA for Dec 23 to be $14.38M, with a high of $15.54M and a low of $13.23M. This is 487.81% upper than Bitfarms's previous annual EBITDA (Sep 23) of $2.45M.
Bitfarms Net Income Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 6 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 |
| Net Income | - | - | - | - | - | - | - | - | - | $-18.70M | $-24.89M | $-2.48M | $-16.84M | $-84.81M | $-141.92M | $4.52M | $9.68M | $23.73M | $-3.67M | $-7.61M | $-5.37M |
| Avg Forecast | $24.07M | $16.72M | $2.01M | $-4.68M | $-14.04M | $-32.10M | $-43.49M | $-7.22M | $-7.04M | $-21.40M | $-21.40M | $-10.03M | $-32.10M | $-8.02M | $20.06M | $16.05M | $52.16M | $80.25M | $24.07M | $32.10M | $-8.02M |
| High Forecast | $33.35M | $23.16M | $2.78M | $12.48M | $-7.38M | $-16.05M | $-22.86M | $-3.80M | $-5.80M | $-11.25M | $-11.25M | $-5.27M | $-16.87M | $-8.02M | $20.06M | $16.05M | $52.16M | $80.25M | $24.07M | $32.10M | $-8.02M |
| Low Forecast | $12.65M | $8.79M | $1.05M | $-40.57M | $-19.46M | $-56.17M | $-60.25M | $-10.01M | $-8.28M | $-29.65M | $-29.65M | $-13.90M | $-44.47M | $-8.02M | $20.06M | $16.05M | $52.16M | $80.25M | $24.07M | $32.10M | $-8.02M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.87% | 1.16% | 0.25% | 0.52% | 10.57% | -7.07% | 0.28% | 0.19% | 0.30% | -0.15% | -0.24% | 0.67% |
Bitfarms's average Quarter net income forecast for Jun 22 is $20.06M, with a range of $20.06M to $20.06M. BITF's average Quarter net income forecast represents a 343.95% increase compared to the company's last Quarter net income of $4.52M (Mar 22).
Bitfarms SG&A Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 6 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 |
| SG&A | - | - | - | - | - | - | - | - | - | $8.37M | $9.15M | $3.20M | $11.97M | $4.20M | $5.50M | $6.18M | $4.94M | $3.33M | $3.11M | $2.82M | $-2.60M |
| Avg Forecast | $-158.51M | $-141.32M | $-119.59M | $-102.26M | $-73.39M | $-49.90M | $-48.11M | $-54.94M | $-46.45M | $-36.92M | $-37.31M | $-31.92M | $-27.60M | $-40.54M | $-52.08M | $-42.70M | $-67.50M | $-50.25M | $-24.48M | $-25.88M | $-10.14M |
| High Forecast | $-100.67M | $-89.75M | $-75.95M | $-63.17M | $-48.33M | $-47.91M | $-48.11M | $-54.94M | $-42.73M | $-36.86M | $-23.69M | $-20.27M | $-17.53M | $-40.54M | $-52.08M | $-42.70M | $-67.50M | $-50.25M | $-24.48M | $-25.88M | $-10.14M |
| Low Forecast | $-205.51M | $-183.22M | $-155.05M | $-133.38M | $-94.36M | $-54.95M | $-48.11M | $-54.94M | $-50.17M | $-36.98M | $-48.37M | $-41.38M | $-35.79M | $-40.54M | $-52.08M | $-42.70M | $-67.50M | $-50.25M | $-24.48M | $-25.88M | $-10.14M |
| Surprise % | - | - | - | - | - | - | - | - | - | -0.23% | -0.25% | -0.10% | -0.43% | -0.10% | -0.11% | -0.14% | -0.07% | -0.07% | -0.13% | -0.11% | 0.26% |
Bitfarms's average Quarter SG&A projection for Dec 23 is $-46.45M, based on 3 Wall Street analysts, with a range of $-50.17M to $-42.73M. The forecast indicates a -654.81% fall compared to BITF last annual SG&A of $8.37M (Sep 23).
Bitfarms EPS Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 4 | 6 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 1 |
| EPS | - | - | - | - | - | - | - | - | - | $-0.07 | $-0.10 | $-0.01 | $-0.08 | $-0.40 | $-0.70 | $0.02 | $0.06 | $0.14 | $-0.02 | $-0.06 | $-0.06 |
| Avg Forecast | $0.06 | $0.04 | $0.01 | $-0.01 | $-0.04 | $-0.08 | $-0.11 | $-0.02 | $-0.02 | $-0.05 | $-0.05 | $-0.03 | $-0.08 | $-0.02 | $0.05 | $0.04 | $0.13 | $0.20 | $0.06 | $0.08 | $-0.02 |
| High Forecast | $0.08 | $0.06 | $0.01 | $0.03 | $-0.02 | $-0.04 | $-0.06 | $-0.01 | $-0.01 | $-0.03 | $-0.03 | $-0.01 | $-0.04 | $-0.02 | $0.05 | $0.04 | $0.13 | $0.20 | $0.06 | $0.08 | $-0.02 |
| Low Forecast | $0.03 | $0.02 | - | $-0.10 | $-0.05 | $-0.14 | $-0.15 | $-0.02 | $-0.02 | $-0.07 | $-0.07 | $-0.03 | $-0.11 | $-0.02 | $0.05 | $0.04 | $0.13 | $0.20 | $0.06 | $0.08 | $-0.02 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.28% | 1.88% | 0.43% | 1.00% | 20.00% | -14.00% | 0.50% | 0.47% | 0.70% | -0.33% | -0.75% | 3.16% |
According to 1 Wall Street analysts, Bitfarms's projected average Quarter EPS for Jun 22 is $0.05, with a low estimate of $0.05 and a high estimate of $0.05. This represents a 150.00% increase compared to BITF previous annual EPS of $0.02 (Mar 22).
Bitfarms Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| BITF | Bitfarms | $2.11 | $4.26 | 101.90% | Buy |
| CLSK | CleanSpark | $13.98 | $25.33 | 81.19% | Buy |
| HIVE | HIVE Blockchain | $4.31 | $6.50 | 50.81% | Buy |
| BTBT | Bit Digital | $4.38 | $6.50 | 48.40% | Buy |
| MARA | Marathon Digital | $20.79 | $29.25 | 40.69% | Buy |
| RIOT | Riot Blockchain | $11.87 | $16.56 | 39.51% | Buy |
| IREN | Iris Energy | $10.33 | $13.44 | 30.11% | Buy |
| CIFR | Cipher Mining | $6.42 | $7.79 | 21.34% | Buy |
| SDIG | Stronghold Digital Mining | $5.16 | $6.25 | 21.12% | Hold |
| WULF | TeraWulf | $6.95 | $7.08 | 1.87% | Buy |
| HUT | Hut 8 Mining | $23.14 | $14.90 | -35.61% | Buy |