In the latest trading session, Riot Blockchain, Inc. (RIOT - Free Report) closed at $49.57, marking a +0.96% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.31%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, lost 2.7%.
Prior to today's trading, shares of the company had gained 128.48% over the past month. This has outpaced the Business Services sector's gain of 4.75% and the S&P 500's gain of 1.32% in that time.
RIOT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.08, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.6 million, up 200% from the prior-year quarter.
Any recent changes to analyst estimates for RIOT should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3400% higher. RIOT currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that RIOT has a Forward P/E ratio of 70.14 right now. Its industry sports an average Forward P/E of 34.74, so we one might conclude that RIOT is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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In the latest trading session, Riot Blockchain, Inc. (RIOT - Free Report) closed at $49.57, marking a +0.96% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.31%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, lost 2.7%.
Prior to today's trading, shares of the company had gained 128.48% over the past month. This has outpaced the Business Services sector's gain of 4.75% and the S&P 500's gain of 1.32% in that time.
RIOT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.08, up 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.6 million, up 200% from the prior-year quarter.
Any recent changes to analyst estimates for RIOT should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3400% higher. RIOT currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that RIOT has a Forward P/E ratio of 70.14 right now. Its industry sports an average Forward P/E of 34.74, so we one might conclude that RIOT is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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