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Riot Platforms, Inc. (RIOT) Stock Moves -0.23%: What You Should Know
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Riot Platforms, Inc. (RIOT - Free Report) closed at $8.82 in the latest trading session, marking a -0.23% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.96%.
Heading into today, shares of the company had lost 11.78% over the past month, lagging the Business Services sector's loss of 3.96% and the S&P 500's loss of 3.02% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. In the meantime, our current consensus estimate forecasts the revenue to be $74.07 million, indicating a 60.01% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.07 per share and a revenue of $320.3 million, demonstrating changes of -127.66% and +23.59%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. As of now, Riot Platforms, Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Riot Platforms, Inc. (RIOT) Stock Moves -0.23%: What You Should Know
Riot Platforms, Inc. (RIOT - Free Report) closed at $8.82 in the latest trading session, marking a -0.23% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.96%.
Heading into today, shares of the company had lost 11.78% over the past month, lagging the Business Services sector's loss of 3.96% and the S&P 500's loss of 3.02% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. In the meantime, our current consensus estimate forecasts the revenue to be $74.07 million, indicating a 60.01% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.07 per share and a revenue of $320.3 million, demonstrating changes of -127.66% and +23.59%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. As of now, Riot Platforms, Inc. holds a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.