Riot Platforms, Inc. (RIOT) Laps the Stock Market: Here's Why
Riot Platforms, Inc. (RIOT) closed the latest trading day at $12.24, indicating a +1.58% change from the previous session's end. This change outpaced the S&P 500's 0.86% gain on the day. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 0.51%.
The company's stock has dropped by 28.27% in the past month, falling short of the Business Services sector's loss of 0.74% and the S&P 500's gain of 2.84%.
The investment community will be paying close attention to the earnings performance of Riot Platforms, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.19, signifying a 575% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $101.82 million, indicating a 39.02% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.70 per share and a revenue of $455.47 million, demonstrating changes of -150% and +62.26%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Riot Platforms, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.56% higher. Right now, Riot Platforms, Inc. possesses a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report
