U.S. markets open in 8 hours 4 minutes
  • S&P Futures

    3,890.00
    -8.75 (-0.22%)
     
  • Dow Futures

    31,456.00
    -53.00 (-0.17%)
     
  • Nasdaq Futures

    13,261.50
    -18.25 (-0.14%)
     
  • Russell 2000 Futures

    2,262.90
    -11.90 (-0.52%)
     
  • Crude Oil

    60.01
    -0.63 (-1.04%)
     
  • Gold

    1,715.60
    -7.40 (-0.43%)
     
  • Silver

    26.22
    -0.46 (-1.72%)
     
  • EUR/USD

    1.2031
    -0.0029 (-0.24%)
     
  • 10-Yr Bond

    1.4460
    0.0000 (0.00%)
     
  • Vix

    23.35
    -4.60 (-16.46%)
     
  • GBP/USD

    1.3888
    -0.0033 (-0.23%)
     
  • USD/JPY

    106.8450
    +0.1150 (+0.11%)
     
  • BTC-USD

    48,491.68
    +2,141.74 (+4.62%)
     
  • CMC Crypto 200

    971.77
    -14.88 (-1.51%)
     
  • FTSE 100

    6,588.53
    +105.10 (+1.62%)
     
  • Nikkei 225

    29,408.17
    -255.33 (-0.86%)
     

Riot Blockchain, Inc. (RIOT) Gains But Lags Market: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $23.08, marking a +1.01% move from the previous day. The stock lagged the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 1.23%.

Wall Street will be looking for positivity from RIOT as it approaches its next earnings report date. On that day, RIOT is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $3.60 million, up 200% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for RIOT. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. RIOT is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, RIOT is currently trading at a Forward P/E ratio of 1142.5. Its industry sports an average Forward P/E of 32.97, so we one might conclude that RIOT is trading at a premium comparatively.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Riot Blockchain, Inc. (RIOT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.