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Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $10.39, marking a -1.24% move from the previous day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%.
Heading into today, shares of the company had gained 21.9% over the past month, outpacing the Business Services sector's gain of 0.42% and the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from Riot Platforms, Inc. as it approaches its next earnings report date. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.19 per share, which would represent a year-over-year decline of 371.43%. Our most recent consensus estimate is calling for quarterly revenue of $76.43 million, down 4.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.60 per share and revenue of $354.92 million. These totals would mark changes of -27.66% and +36.94%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 62.16% lower. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 114, putting it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIOT in the coming trading sessions, be sure to utilize Zacks.com.
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Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $10.39, marking a -1.24% move from the previous day. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 4.87%.
Heading into today, shares of the company had gained 21.9% over the past month, outpacing the Business Services sector's gain of 0.42% and the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from Riot Platforms, Inc. as it approaches its next earnings report date. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.19 per share, which would represent a year-over-year decline of 371.43%. Our most recent consensus estimate is calling for quarterly revenue of $76.43 million, down 4.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.60 per share and revenue of $354.92 million. These totals would mark changes of -27.66% and +36.94%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 62.16% lower. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 114, putting it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIOT in the coming trading sessions, be sure to utilize Zacks.com.