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Here's Why Riot Platforms, Inc. (RIOT) Gained But Lagged the Market Today
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In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $9.16, marking a +0.22% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.02% for the day. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
Shares of the company witnessed a loss of 8.51% over the previous month, trailing the performance of the Business Services sector with its gain of 0.23% and the S&P 500's gain of 4.44%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.16, marking a 5.88% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $73.08 million, reflecting a 4.77% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.29 per share and a revenue of $368.25 million, representing changes of +203.57% and +31.19%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 10.77% fall in the Zacks Consensus EPS estimate. As of now, Riot Platforms, Inc. holds a Zacks Rank of #4 (Sell).
In terms of valuation, Riot Platforms, Inc. is currently trading at a Forward P/E ratio of 31.52. This signifies a premium in comparison to the average Forward P/E of 22.49 for its industry.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Riot Platforms, Inc. (RIOT) Gained But Lagged the Market Today
In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $9.16, marking a +0.22% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.02% for the day. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
Shares of the company witnessed a loss of 8.51% over the previous month, trailing the performance of the Business Services sector with its gain of 0.23% and the S&P 500's gain of 4.44%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.16, marking a 5.88% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $73.08 million, reflecting a 4.77% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.29 per share and a revenue of $368.25 million, representing changes of +203.57% and +31.19%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 10.77% fall in the Zacks Consensus EPS estimate. As of now, Riot Platforms, Inc. holds a Zacks Rank of #4 (Sell).
In terms of valuation, Riot Platforms, Inc. is currently trading at a Forward P/E ratio of 31.52. This signifies a premium in comparison to the average Forward P/E of 22.49 for its industry.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.