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In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $8.18, marking a +0.74% move from the previous day. This change outpaced the S&P 500's 0.08% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the company had gained 79.25% over the past month, outpacing the Business Services sector's gain of 18.72% and the S&P 500's gain of 8.78% in that time.
Investors will be hoping for strength from Riot Blockchain, Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.08, down 38.46% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $77.24 million, up 124.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.64 per share and revenue of $345.62 million. These totals would mark changes of +6.67% and +62.08%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Riot Blockchain, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 31.32% lower. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Riot Blockchain, Inc. has a Forward P/E ratio of 12.73 right now. This represents a discount compared to its industry's average Forward P/E of 26.67.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIOT in the coming trading sessions, be sure to utilize Zacks.com.
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Riot Blockchain, Inc. (RIOT) : Free Stock Analysis Report
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