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Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $9.20, marking a -0.11% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Shares of the company have depreciated by 11.19% over the course of the past month, underperforming the Business Services sector's gain of 1.04% and the S&P 500's gain of 2.83%.
Investors will be eagerly watching for the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.16 per share. This would mark year-over-year growth of 5.88%. Meanwhile, the latest consensus estimate predicts the revenue to be $73.08 million, indicating a 4.77% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.29 per share and a revenue of $368.25 million, demonstrating changes of +203.57% and +31.19%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.33% lower. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Riot Platforms, Inc. is at present trading with a Forward P/E ratio of 31.76. This expresses a premium compared to the average Forward P/E of 22.07 of its industry.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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: Here's Why
In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $9.20, marking a -0.11% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.
Shares of the company have depreciated by 11.19% over the course of the past month, underperforming the Business Services sector's gain of 1.04% and the S&P 500's gain of 2.83%.
Investors will be eagerly watching for the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.16 per share. This would mark year-over-year growth of 5.88%. Meanwhile, the latest consensus estimate predicts the revenue to be $73.08 million, indicating a 4.77% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.29 per share and a revenue of $368.25 million, demonstrating changes of +203.57% and +31.19%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.33% lower. Riot Platforms, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Riot Platforms, Inc. is at present trading with a Forward P/E ratio of 31.76. This expresses a premium compared to the average Forward P/E of 22.07 of its industry.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.