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Riot Blockchain, Inc. (RIOT) Outpaces Stock Market Gains: What You Should Know
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Riot Blockchain, Inc. (RIOT - Free Report) closed at $12.04 in the latest trading session, marking a +1.6% move from the prior day. This change outpaced the S&P 500's 0.57% gain on the day. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the company had lost 42.92% in the past month. In that same time, the Business Services sector lost 7.15%, while the S&P 500 lost 5.26%.
Riot Blockchain, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of -$0.11 per share. This would mark a year-over-year decline of 222.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.42 million, up 281.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $456.52 million. These totals would mark changes of -10% and +114.08%, respectively, from last year.
Any recent changes to analyst estimates for Riot Blockchain, Inc. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 35.71% lower within the past month. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Riot Blockchain, Inc. has a Forward P/E ratio of 21.94 right now. For comparison, its industry has an average Forward P/E of 20.29, which means Riot Blockchain, Inc. is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Riot Blockchain, Inc. (RIOT) Outpaces Stock Market Gains: What You Should Know
Riot Blockchain, Inc. (RIOT - Free Report) closed at $12.04 in the latest trading session, marking a +1.6% move from the prior day. This change outpaced the S&P 500's 0.57% gain on the day. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq lost 0.11%.
Coming into today, shares of the company had lost 42.92% in the past month. In that same time, the Business Services sector lost 7.15%, while the S&P 500 lost 5.26%.
Riot Blockchain, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of -$0.11 per share. This would mark a year-over-year decline of 222.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.42 million, up 281.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $456.52 million. These totals would mark changes of -10% and +114.08%, respectively, from last year.
Any recent changes to analyst estimates for Riot Blockchain, Inc. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 35.71% lower within the past month. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Riot Blockchain, Inc. has a Forward P/E ratio of 21.94 right now. For comparison, its industry has an average Forward P/E of 20.29, which means Riot Blockchain, Inc. is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.