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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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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Riot Blockchain (RIOT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 213 companies in the Business Services group. The Business Services group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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 90 days, the Zacks Consensus Estimate for RIOT's full-year earnings has moved 3,400% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, RIOT has returned 157.45% so far this year. At the same time, Business Services stocks have gained an average of 0.40%. 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, which includes 82 individual stocks and currently sits at #205 in the Zacks Industry Rank. Stocks in this group have gained about 9.88% so far this year, so RIOT is performing better this group in terms of year-to-date returns.

RIOT will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.


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