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Riot Platforms, Inc. (RIOT) Dips More Than Broader Markets: What You Should Know

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Riot Platforms, Inc. (RIOT - Free Report) closed the most recent trading day at $11.54, moving -0.94% from the previous trading session. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.

Heading into today, shares of the company had lost 3.16% over the past month, lagging the Business Services sector's gain of 3.93% and the S&P 500's gain of 4.22% in that time.

Wall Street will be looking for positivity from Riot Platforms, Inc. as it approaches its next earnings report date. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 52%. Meanwhile, our latest consensus estimate is calling for revenue of $82.05 million, up 12.47% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.01 per share and revenue of $347.83 million, which would represent changes of -114.89% and +34.21%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Riot Platforms, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has moved 0.5% lower. Riot Platforms, Inc. currently has a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 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.

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