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Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
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Riot Platforms, Inc. (RIOT - Free Report) closed at $18.28 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's daily gain of 0.71%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 4.62%.
Prior to today's trading, shares of the company had gained 77.69% over the past month. This has outpaced the Business Services sector's gain of 2.93% and the S&P 500's gain of 2.65% in that time.
Investors will be hoping for strength from Riot Platforms, Inc. as it approaches its next earnings release. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 52%. Meanwhile, our latest consensus estimate is calling for revenue of $83.01 million, up 13.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.13 per share and revenue of $355.46 million, which would represent changes of -140.43% and +37.15%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 5.31% higher. Riot Platforms, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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
Riot Platforms, Inc. (RIOT - Free Report) closed at $18.28 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's daily gain of 0.71%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 4.62%.
Prior to today's trading, shares of the company had gained 77.69% over the past month. This has outpaced the Business Services sector's gain of 2.93% and the S&P 500's gain of 2.65% in that time.
Investors will be hoping for strength from Riot Platforms, Inc. as it approaches its next earnings release. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 52%. Meanwhile, our latest consensus estimate is calling for revenue of $83.01 million, up 13.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.13 per share and revenue of $355.46 million, which would represent changes of -140.43% and +37.15%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 5.31% higher. Riot Platforms, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.