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Investors focused on the Business Services space have likely heard of Riot Blockchain (RIOT), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Riot Blockchain is one of 278 individual stocks in the Business Services sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. RIOT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for RIOT's full-year earnings has moved 66.45% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, RIOT has returned 92.82% so far this year. Meanwhile, stocks in the Business Services group have lost about 20.39% on average. This means that Riot Blockchain is performing better than its sector in terms of year-to-date returns.
Looking more specifically, RIOT belongs to the Technology Services industry, a group that includes 134 individual stocks and currently sits at #141 in the Zacks Industry Rank. On average, this group has lost an average of 19.63% so far this year, meaning that RIOT is performing better in terms of year-to-date returns.
Going forward, investors interested in Business Services stocks should continue to pay close attention to RIOT as it looks to continue its solid performance.
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Riot Blockchain, Inc. (RIOT) : Free Stock Analysis Report
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