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Riot Blockchain, Inc. (RIOT) Gains But Lags Market: What You Should Know
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Riot Blockchain, Inc. (RIOT - Free Report) closed at $23 in the latest trading session, marking a +0.61% move from the prior day. The stock lagged the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.
Coming into today, shares of the company had gained 32.68% in the past month. In that same time, the Business Services sector gained 2.25%, while the S&P 500 gained 4.69%.
Investors will be hoping for strength from Riot Blockchain, Inc. as it approaches its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of -$0.05 per share. This would mark a year-over-year decline of 155.56%. Meanwhile, our latest consensus estimate is calling for revenue of $91.92 million, up 296.21% from the prior-year quarter.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of $0.68 per share and revenue of $477.93 million. These results would represent year-over-year changes of +13.33% and +124.12%, respectively.
It is also important to note the recent changes to analyst estimates for Riot Blockchain, Inc.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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 5.79% higher. Riot Blockchain, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 33.87. For comparison, its industry has an average Forward P/E of 22.51, which means Riot Blockchain, Inc. is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Riot Blockchain, Inc. (RIOT) Gains But Lags Market: What You Should Know
Riot Blockchain, Inc. (RIOT - Free Report) closed at $23 in the latest trading session, marking a +0.61% move from the prior day. The stock lagged the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 0.44%.
Coming into today, shares of the company had gained 32.68% in the past month. In that same time, the Business Services sector gained 2.25%, while the S&P 500 gained 4.69%.
Investors will be hoping for strength from Riot Blockchain, Inc. as it approaches its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of -$0.05 per share. This would mark a year-over-year decline of 155.56%. Meanwhile, our latest consensus estimate is calling for revenue of $91.92 million, up 296.21% from the prior-year quarter.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of $0.68 per share and revenue of $477.93 million. These results would represent year-over-year changes of +13.33% and +124.12%, respectively.
It is also important to note the recent changes to analyst estimates for Riot Blockchain, Inc.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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 5.79% higher. Riot Blockchain, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 33.87. For comparison, its industry has an average Forward P/E of 22.51, which means Riot Blockchain, Inc. is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.