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Riot Platforms, Inc. (RIOT) Gains But Lags Market: What You Should Know
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In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $17.63, marking a +0.66% move from the previous day. This move lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the company had gained 70.66% over the past month, outpacing the Business Services sector's gain of 3.26% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Riot Platforms, Inc. as it approaches its next earnings release. 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%. Our most recent consensus estimate is calling for quarterly revenue of $83.01 million, up 13.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.96 per share and revenue of $355.46 million. These totals would mark changes of -104.26% and +37.15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Riot Platforms, Inc.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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 19.97% higher within the past month. Riot Platforms, Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Riot Platforms, Inc. (RIOT) Gains But Lags Market: What You Should Know
In the latest trading session, Riot Platforms, Inc. (RIOT - Free Report) closed at $17.63, marking a +0.66% move from the previous day. This move lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the company had gained 70.66% over the past month, outpacing the Business Services sector's gain of 3.26% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Riot Platforms, Inc. as it approaches its next earnings release. 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%. Our most recent consensus estimate is calling for quarterly revenue of $83.01 million, up 13.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.96 per share and revenue of $355.46 million. These totals would mark changes of -104.26% and +37.15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Riot Platforms, Inc.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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 19.97% higher within the past month. Riot Platforms, Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.