Shareholders might have noticed that CleanSpark, Inc. (NASDAQ:CLSK) filed its quarterly result this time last week. The early response was not positive, with shares down 3.6% to US$15.57 in the past week. The results were positive, with revenue coming in at US$112m, beating analyst expectations by 2.1%. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

Check out our latest analysis for CleanSpark

Following the latest results, CleanSpark's six analysts are now forecasting revenues of US$434.4m in 2024. This would be a sizeable 53% improvement in revenue compared to the last 12 months. Statutory earnings per share are forecast to crater 58% to US$0.12 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$430.2m and earnings per share (EPS) of US$0.16 in 2024. The analysts seem to have become more bearish following the latest results. While there were no changes to revenue forecasts, there was a large cut to EPS estimates.

The consensus price target held steady at US$23.33, with the analysts seemingly voting that their lower forecast earnings are not expected to lead to a lower stock price in the foreseeable future. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic CleanSpark analyst has a price target of US$30.00 per share, while the most pessimistic values it at US$15.00. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Another 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. It's clear from the latest estimates that CleanSpark's rate of growth is expected to accelerate meaningfully, with the forecast 135% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 63% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 13% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that CleanSpark is expected to grow much faster than its industry.