In the latest trading session, Riot Platforms, Inc. (RIOT) closed at $20.95, marking a -2.42% move from the previous day. This change lagged the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 0.29%, and the technology-centric Nasdaq decreased by 0.56%.
Shares of the company have appreciated by 12.91% over the course of the past month, outperforming the Finance sector's loss of 0.73%, and the S&P 500's loss of 0.82%.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.33, reflecting a 226.92% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $162.75 million, indicating a 9.7% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.71 per share and a revenue of $670.27 million, demonstrating changes of -38.97% and +3.53%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Riot Platforms, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 7.29% lower. Right now, Riot Platforms, Inc. possesses a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
