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Has Riot Blockchain (RIOT) Outpaced Other Business Services Stocks This Year?

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Zacks Equity Research
·2 min read
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Riot Blockchain (RIOT) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Riot Blockchain is one of 214 individual stocks in the Business Services sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. RIOT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for RIOT's full-year earnings has moved 3,400% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that RIOT has returned about 254.27% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of 2.06% on a year-to-date basis. As we can see, Riot Blockchain is performing better than its sector in the calendar year.

Breaking things down more, RIOT is a member of the Technology Services industry, which includes 82 individual companies and currently sits at #184 in the Zacks Industry Rank. On average, this group has gained an average of 5.53% so far this year, meaning that RIOT is performing better in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track RIOT. The stock will be looking to continue its solid performance.

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