U.S. markets closed
  • S&P 500

    4,232.60
    +30.98 (+0.74%)
     
  • Dow 30

    34,777.76
    +229.23 (+0.66%)
     
  • Nasdaq

    13,752.24
    +119.39 (+0.88%)
     
  • Russell 2000

    2,271.63
    +30.21 (+1.35%)
     
  • Crude Oil

    64.82
    +0.11 (+0.17%)
     
  • Gold

    1,832.00
    +16.30 (+0.90%)
     
  • Silver

    27.57
    +0.09 (+0.32%)
     
  • EUR/USD

    1.2167
    +0.0098 (+0.82%)
     
  • 10-Yr Bond

    1.5770
    +0.0160 (+1.02%)
     
  • GBP/USD

    1.3990
    +0.0098 (+0.70%)
     
  • USD/JPY

    108.5400
    -0.5450 (-0.50%)
     
  • BTC-USD

    58,053.30
    -517.30 (-0.88%)
     
  • CMC Crypto 200

    1,480.07
    +44.28 (+3.08%)
     
  • FTSE 100

    7,129.71
    +53.54 (+0.76%)
     
  • Nikkei 225

    29,357.82
    +26.45 (+0.09%)
     

Is Riot Blockchain (RIOT) Stock Outpacing Its Business Services Peers This Year?

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

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Riot Blockchain (RIOT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Riot Blockchain is a member of the Business Services sector. This group includes 223 individual stocks and currently holds a Zacks Sector Rank of #13. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 9,650% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that RIOT has returned about 206.24% since the start of the calendar year. At the same time, Business Services stocks have gained an average of 0.15%. As we can see, Riot Blockchain is performing better than its sector in the calendar year.

To break things down more, RIOT belongs to the Technology Services industry, a group that includes 90 individual companies and currently sits at #166 in the Zacks Industry Rank. Stocks in this group have lost about 0.26% so far this year, so RIOT is performing better this group 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.


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.